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plewis_
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by
plewis_
8y ago
You're right, I was confusing a money market mutual fund with a bank money market account.
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by
plewis_
8y ago
Money markets are not covered by the FDIC or NCUA. [1] During the financial crisis, the Reserve Primary Fund "broke the buck" and lost principal for investors. [2] [1] https://www.consumerfinance.gov/ask-cfpb/