Given the economic role of the money market, explain the importance of the typical characteristics of money market securities. What is flight to quality and how did it manifest itself in the money markets from 2007 to 2009? Why would you never observe a U.S. Treasury bill paying the same quoted rate of interest as a negotiable CD of the same maturity? Why have asset-backed securities become important in capital markets? Explain how and why the junk bond market had an impact on commercial bank lending . Explain why investors should always make a tax-exempt and taxable comparison when buying bonds