Walt Bettinger Charles Schwab President and CEO

Charles Schwab [profile] CEO Walt Bettinger [#7 on MFWire's 2010 influencers list] is tired of the fighting and is ready to find a compromise in the battle of money market funds.

In a guest opinion piece in the Wall Street Journal, Bettinger says that while he and his firm are against any regulation that effectively ends money market funds as we know them, he sees a clear compromise.

He believes that prime money funds, which are inherently more risky, should have a floating net asset value. Non-prime funds, though, should continue to operate as they have with a stable NAV.

This arrangement, he writes, will be more fair to fund companies and will add security for investors.

On the same day, the Journal's Outlook page ran another piece on money funds, praising Bettinger's idea. Read that here. 

Edited by: Ben Geier


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