Here is some good advice from Treasury Strategies Linkedin Group. I highly recommend to join this group. 

Treasury Strategies' LinkedIn Groups, we are sharing our view on the current liquidity market. Treasury Strategies understands that recent market events are confusing and concerning - in our lifetimes, we've never experienced what we've seen over the past week. With the Reserve Primary Fund "breaking the buck," Lehman Brothers declaring bankruptcy, Merrill Lynch being acquired and banks' share prices plummeting, we're all thinking, "Where is our liquidity safe?" We urge our clients to keep calm when re-evaluating investment decisions. A micro-response to the day's headlines will not serve the best interests of your organization or the broader financial markets and could lead to further, longer-term market disruptions. Industry expert Peter Crane of Crane Data said last week that the Reserve Fund is not an indicator of what's to come. "The combination of high yields, hot money and a lack of deep pockets likely will prove fatal to the first, and oldest money market mutual fund [Reserve Primary Fund]. ...we expect money market funds to soldier on with just a single case of a fund "breaking the buck." The U.S. Treasury announced a temporary guaranty program for all eligible money market mutual funds - both institutional and retail - that can tap $50B to prevent any fund from "breaking the buck." The markets have already begun to stabilize with this news. Corporate treasurers who stick with tried-and-true liquidity management best practices through the current chaos will come out on top. These include: Know your investments - This includes knowing not only the funds in which you invest but also their underlying instruments. Consult your fund's prospectus, and regularly check with the fund provider for updated holdings reports. Talk to your providers - Investment providers are holding daily client calls to ease their concerns and answer questions. Diversify across all investment instruments, including individual funds - Reducing exposure to any single investment decreases risk. Monitor counterparty risk - Ensure you establish appropriate risk parameters and leverage technology to monitor risks and limits. We are advising clients to certainly revisit their short-term investment decisions, and to do so in an informed, methodical way that is proactive vs. reactive to market headlines. Treasury Strategies, Inc.