No. I am saying that money market funds that buy short-term treasuries ("government funds") have the same level of safety as insured deposits. Because of this

No. I am saying that money market funds that buy short-term treasuries ("government funds") have the same level of safety as insured deposits. Because of this safety, they have lower yields than prime funds which invest in unsecured short-term corporate debt. It is unfair to the careful people who invest in government funds to bail out prime fund investors every time it looks like they might lose 0.5-1%.