More Fallout from the Banking Mess

Florida has a fund that invested in mortgage backed securities because the offerings were rated AAA and provided a higher return than a money-market fund. Unfortunately, the fund has lost money (with probably more to go) so all of the prudent municipalities have pulled their funding - a run on the fund - even though Florida denies it is a run. At any rate, look for those with money left to lose some of their ultra-safe investment.