Christopher Donahue, chief executive officer of FederatedInvestors Inc., is sticking up for the family business when hedefends money-market funds.

Donahue, whose family-controlled firm has three-fourths of itsassets in the cash-like products, is the most outspoken opponent ofan effort to impose new regulations on the $2.6 trillion industry.Donahue, who refers to the funds as “the eighth wonder of theworld,” called one of the proposals “totally brain dead” in aninterview.

“How can I defend them with anything but passion,” Donahue, 63,said in the interview at Federated's Pittsburgh headquarters fromhis office overlooking the Allegheny River. “I've got passion forthe beauty of money funds.”

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