Oh, oh..."breaking the buck" is very bad for money market funds (see post-Lehman collapse). The contagion of a Greek default will spread throughout the Euro zone. Guess what US money market funds invest in for "safety"? Answer: Euro bonds.
http://www.bloomberg.com/news/2011-06-29/institutions-pull-out-of-prime-money-funds.html
Wednesday, June 29, 2011
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