The announcement by the U.S. Treasury today that mutual funds can pay a fee to be federally insured against losses for a year is a clear sign of the breadth of the financial crisis.
I have to admit, I started thinking this week about whether to yank my money out of a mutual fund and into an FDIC-insured bank account. Thanks, New York Times! I suppose it could be seen as ironic, but really it's revealing: the Treasury made this move precisely because people like you and I are thinking about doing just that.
