;#Faculty News;# | New York Times | 29
Funds and Allies Defend the Buck
Re: David Scharfstein
So-called prime money market funds, which seek relatively high yields, "have evolved into a critical source of short-term wholesale funding for large global banks," said David S. Scharfstein, a finance professor at Harvard Business School. "They are now a much less important funding source for nonfinancial firms."