Global Financial Crisis. The U.S. Treasury announces the establishment of a $50 billion guarantee fund for money market funds. The fund will be financed by the Treasury’s Exchange Stabilization Fund. The long-term cost of the financial plan, including bailouts for Fannie Mae, Freddie Mac, and AIG, is estimated at $1 trillion. The insurance fund will be financed by $50 billion from the Treasury’s Exchange Stabilization Fund, which was created in 1934 at the end of the Great Depression.
