[toomuchtodo]

In times of crisis, folks are going to argue any actions the Fed takes are within their remit [1] (accepting equity securities as collateral for short term cash through a primary dealer facility?). The vast majority of households do not use a money market fund; their savings are in FDIC deposit accounts or credit unions.

If you want government insurance, use a government insured account, or let’s do away with the idea that some types of assets will be allowed to fail; the Fed will simply step in and backstop the entire economy with “unlimited support”.

[1] https://www.federalreserve.gov/newsevents/pressreleases/mone...