The thing is that people had pretty good reasons to expect Money Market Mutual Funds to be stable at $1. Everybody who really understood them knew that breakin

The thing is that people had pretty good reasons to expect Money Market Mutual Funds to be stable at $1. Everybody who really understood them knew that breaking the buck was possible, but absent fraud, it wouldn't have been possible without a massive economic collapse (which didn't happen). Nobody in their right mind should have expected UST to remain stable for any length of time at all, as it is fundamentally built on smoke, mirrors, and Ponzi's best friend. I'm sure there will be some sad stories about people who had no idea what they were buying that lost money they couldn't afford to gamble with, but it's really hard to feel too bad for the suckers and hypemonkeys who memed this stuff into having temporary value.