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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (361096)12/2/2007 1:43:37 PM
From: Road Walker  Read Replies (1) of 1576181
 
It wasn't a problem until the run on the state's funds. The mortgage stuff was only ~5%. Then all the munis and counties started to withdraw funds, and now it's about 12%.

The mortgage stuff isn't liquid, and you have to sell it for dimes on the dollar. So the state froze the funds.

Amazing how this mortgage stuff is spreading... it's like an aggressive cancer in the financial system
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