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"One proposal would allow the value of the funds to float, rather than being fixed at $1 per share as it is now. The other would require investors to stagger withdrawals. They could get 97 percent out at once and the remainder after 30 days."

And for taking that risk, you are supposed to be happy with the current low interest rates? TDAmeritrade now puts clients who have managed accounts into cash instead or money market. I wonder if this is related to that.

You can make a good case for putting your "cash" into 90 day Treasury bills, as opposed to money market. Most people I know use money market accounts as a way to park cash when they sell some stocks and have not yet picked out new stocks to buy. Treasury bills are extremely liquid, and I think that the settlement is 1 day.
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