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Other states are experiencing similar problems on a smaller scale.
The Montana Board of Investments, which manages the state's money, has seen $247
million withdrawn by local governments in the past three days from a $2.5
billion money-market-like fund called the Short Term Investment Pool.
"We've had some local government withdrawals in the past few days because of reports
about Florida's problems," Carroll South, executive director at the Montana
Board of Investments, said in an interview on Thursday.
Rating agency Standard & Poor's warned last month that it could downgrade a $4.8 billion
investment pool run by King County, Wash., because of potential subprime exposures.
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