During the financial crisis of 2007–2009, the U.S. Treasury implemented the Guarantee Program for Money Market Funds, which insured investors against losses on their existing money market mutual fund shares. (The program ended in September 2009.) In explaining the program, a Treasury statement noted: “Maintaining confidence in the money market mutual fund industry was critical to protecting the integrity and stability of the global financial system.” Why is the money market mutual fund industry so important? If money market mutual funds have problems, can’t savers just deposit their money in banks?