{"id":198199,"date":"2007-12-03T06:08:00","date_gmt":"2007-12-03T11:08:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/03\/state-money-market-fund-in-montana-now-in-trouble\/"},"modified":"2007-12-03T06:08:00","modified_gmt":"2007-12-03T11:08:00","slug":"state-money-market-fund-in-montana-now-in-trouble","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/03\/state-money-market-fund-in-montana-now-in-trouble\/","title":{"rendered":"State Money Market Fund in Montana Now in Trouble"},"content":{"rendered":"<p>I get the sense that the serious of complex investmentsts that Atrios calls &#8220;The Big Sh@$pile&#8221; were aggressively dumped off on a lot of states and municipalities over the past few years, because it now appears that<br \/><a href=\"http:\/\/www.marketwatch.com\/news\/story\/montana-investment-fund-sees-withdrawals\/story.aspx?guid=%7BF0D0A48E-C629-411D-B67C-30AB7D5D8BA3%7D\">Montana&#8217;s Short Term Investment Pool<\/a>, another <span style=\"font-weight: bold;\">money market like<\/span> investment.  And again, there appears to be a run on this.<\/p>\n<p>We&#8217;ve got the same thing going on in King County, WA (Seattle).<\/p>\n<p>But here is the <span style=\"font-weight: bold;\">scary<\/span> quote:<\/p>\n<blockquote><p><span style=\"color: rgb(0, 0, 153);\"> Montana has completed a thorough review of its subprime exposures. Less than 1% of the underlying assets of its SIVs are subprime, South said, with the rest being bank debt and prime and commercial mortgages.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">&#8220;It&#8217;s not a subprime issue anymore, it&#8217;s an asset-backed commercial paper issue now,&#8221; South added.<\/span> <\/p><\/blockquote>\n<p>Translated into English, this means that the <span style=\"font-weight:bold;\">entire us investment system is now unsafe<\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I get the sense that the serious of complex investmentsts that Atrios calls &#8220;The Big Sh@$pile&#8221; were aggressively dumped off on a lot of states and municipalities over the past few years, because it now appears thatMontana&#8217;s Short Term Investment Pool, another money market like investment. And again, there appears to be a run on &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1009,985],"tags":[],"class_list":["post-198199","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-government","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198199"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=198199"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198199\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}