explain why the shadow banking system may be more fragile than the commercial banking system.

1. Briefly explain why the shadow banking system may be more fragile than the commercial banking system.
2. During the financial crisis, 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. In explaining the program, a Treasury statement noted that: “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?