Faculty News | New York Times | 24
Suggested Safeguards Irk Fund Industry
Re: David Scharfstein
BUT is the S.E.C.'s lens really so outdated? David S. Scharfstein, a professor of finance and banking at the Harvard Business School who also testified, thinks not. In an interview Thursday, he pointed to the large withdrawals made by institutional money market fund investors last summer as the European debt crisis escalated. "It wasn't a panic run but it was a significant withdrawal of funding from financial institutions," he said.