Fund Run: Municipals losing money and pulling out of funds

It seems that runs are starting on funds at least at the state level:

1. Florida School Fund Rocked by $8 Billion Pullout -- turns out some State funds were invested in SIV's which have lost money in the last few months. So local governments pulled out and those who are still in it may not get back their principle!
2. Maine Treasurer Criticizes Merrill for Subprime Bet -- seems that ML lead them astray and made Maine lose money.
3. Caisse de Depot Has C$13.2 Billion Invested in Commercial Paper -- Canada's biggest pension fund manager also has C$1 Billion in subprime loans.
4. As towns go broke, subprime crisis hits Arctic Circle -- "A Norwegian brokerage that lost its license over its role in turning four remote towns around the Arctic Circle into victims of the U.S. subprime crisis said Wednesday that it would file for bankruptcy."
   

What a nice bunch: all blaming the US subprime "problem."

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