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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (361090)	12/3/2007 9:42:12 PM
From: tejek	Read Replies (1) of 1576923

Florida's State Board of Administration, manager of the Local Government Investment Pool, halted withdrawals yesterday at an emergency meeting after $13 billion was pulled out this month from participants. Governments from Orange County, home of Disney World, to Pompano Beach asked for their money back following disclosures that the fund held $1.5 billion of downgraded and defaulted debt. I can't believe a gov't fund bought into these CDOs. What happen to the conservative habits of gov't fund managers? Instead, they're buying into the riskiest, most speculative securities. Someone needs to get fired. Oh wait, wasn't a Bush recently a governor of the state...never mind, now I understand.

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