Reserve Primary Money Fund Falls Below $1 a Share (Update4)
By Christopher Condon
Sept. 16 (Bloomberg) -- became the first money-market fund in 14 years to expose investors to losses after writing off $785 million of debt issued by bankrupt Lehman Brothers Holdings Inc.
The fund, whose assets plunged more than 60 percent to $23 billion in the past two days, said the Lehman losses forced the net value of its assets below $1 a share, known as breaking the buck. Reserve Primary, the oldest money fund in the nation, fell to 97 cents a share and redemptions were suspended for as long as seven days.
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But don't worry - cuz Xan says there are no relations between things and all these sites are crack pot tin foil web sites.



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