GEITHNER PRESSURING: Treasury Secretary Timothy Geithner is putting pressure on the Securities and Exchange Commission to overhaul its rules for money-market mutual funds.
FINANCIAL STABILITY ISSUE: Geithner says the changes are necessary for the well-being of the financial system. He sent a letter to members of the Financial Stability Oversight Council, which he heads, seeking their help in pressuring the SEC to change the rules.
SEC CHAIRMAN THWARTED: SEC Chairman Mary Schapiro has pushed for the changes. But she abandoned the effort last month because three of the agency's five commissioners oppose an overhaul.