"I think when it comes down to questions of hard cash and state budget, the European governments will feel they are doing what they can and it is not really up to the United States to tell them what to do,"
VOA: standard.2009.03.29
In good times, mutual funds run their cashdown to 5%.
That makes sense since they are the two largest purchases consumers make, usually with most of the purchase price financed, significantly multiplying the economic effect of the cashdown payment, while increased home construction and auto production results in significant new business for the long stream of suppliers to those industries.