Taxpayers received a bit of good news this morning. The Treasury Department announced it will be letting the Guarantee Program for Money Market Funds expire today. One of the extraordinary programs created in the wake of the financial crisis, the Guarantee Program put taxpayers in the business of guaranteeing against severe losses for participating money market mutual funds.
Treasury reports taxpayers had no losses under the Program and earned approximately $1.2 billion in fees.
Read The Wall Street Journal's article for the backstory.
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