Implode-o-Meter News - "This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied"

A key proposal [two year ago] would [have given] money market fund managers the option to "suspend redemptions to allow for the orderly liquidation of fund assets." In other words: an attempt to prevent money market runs (the same thing that crushed Lehman when the Reserve Fund broke the buck). This idea, which previously had been implicitly backed by the all important Group of 30 which is basically the shadow central planners of the world (don't believe us? check out the roster of current members), did not get too far, and was quickly forgotten. Until today, when the New York Fed decided to bring it back from the dead by publishing "The Minimum Balance At Risk: A Proposal to Mitigate the Systemic Risks Posed by Money Market FUnds".
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What is surprising is that this proposal is reincarnated now. The question becomes: why now? What does the Fed know about market liquidity conditions that it does not want to share

Relevant:

"This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied" - The Sequel