Today these firms are advising investors regarding a host of legal, ethical and operational mutual fund issues that they are simply unqualified to comment upon.

FORBES: The Great Mutual Fund Clean Up That Almost Happened (April 4, 2004 )

Late last night Moody's put the eurozone's operational bailout fund, the European Financial Stability Facility, on so-called "negative outlook", which means it is at serious risk of losing its AAA credit rating.

BBC: Eurozone nations�� sovereignty v AAA

At most there are some modifications to the fund that are generally operational, he said, such as when the fund went to being 100% physically allocated last year from 99.85% allocated.

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He said the SMP would continue on precisely the same terms as before, which some took as a break with his predecessor, Jean-Claude Trichet, who had suggested it would end when the eurozone's rescue fund was operational.

BBC: The great shakedown in Cannes

This comparison reveals the unique feature of Medicare Part A: It is the only one of these programs that allows budget savings to pay for other programs and has a trust fund with real operational teeth.

FORBES: Medicare's Peculiar Budget Rules And The Fight Over Double Counting

The debt limit thus operates like the Social Securitytrust fund: it imposes an important operational restraint, and budget actions used to avoid it cannot pay for other programs.

FORBES: Medicare's Peculiar Budget Rules And The Fight Over Double Counting

It faces the same operational limitations as Medicare Part A if its trust fund balance falls to zero.

FORBES: Medicare's Peculiar Budget Rules And The Fight Over Double Counting