Wednesday, 17 September 2008


Breaking News from MoneyNews.com

Investors Flood Out of Money Markets, Banks
As new evidence emerges that major money market funds have significant
exposure to the collateralized debt obligation (CDO) crisis, worried investors
are withdrawing billions from their banks and money market funds. As news
spread today that the Reserve Primary Fund money market fell below
$1 a share in net asset value because of its losses on debt issued by
Lehman Brothers Holdings, cash depositors across the banking and
investment sector have been flocking to safer havens like T-bills.
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