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Rating:Fundsters, Brace For Congressional Questions on Greece Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 20, 2011

Fundsters, Brace For Congressional Questions on Greece

News summary by MFWire's editors

Money market mutual fundsters may want to prepare themselves for some questions over Greece. The Capital Markets and Government Sponsored Enterprises Subcommittee of the Committee on Financial Services in the U.S. House of Representatives has a hearing scheduled for Friday morning on "Oversight of the Mutual Fund Industry: Ensuring Market Stability and Investor Confidence," and FOXBusiness' Peter Barnes warns that recent turmoil surrounding the European Union and the IMF's $160 billion Greek bailout cause the legislators in the hearing to focus on money funds' exposure to European banks with exposure to Greece.

Yet the hearing, announced on June 3, "has been in the works for a while" and was not intended to have anything to do with Greece, a House source told FOXBusiness. 

Edited by: Neil Anderson, Managing Editor

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