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Monday, September 14, 2009|
The Collapse of Reserve Primary: a Detailed Timeline of the Financial System's 'Ice-Nine'
Wednesday will mark the one-year anniversary of when the Reserve Primary Fund, then holding $62.5 billion, broke the buck. For those fundsters pondering how it all went down, Bloomberg's Christine Harper, Bob Ivry and Mark Pittman recently penned a detailed account of what happened to the fund (and its shareholders and advisor) when Lehman Brothers collapsed in September 2008, comparing the situation to the apocalyptic 'ice-nine' substance imagined by Kurt Vonnegut in Cat's Cradle.
For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.
Notable tidbits from the Bloomberg piece include:
Printed from: MFWire.com/story.asp?s=22594
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