Florida Just First to Face National Run on the Bank

This story has already been told.

While “Muniland” may certainly be in for more hits, that doesn’t necessarily affect the average investor – one might try moving up the sophistication chain a notch. The next stop seems to be regional bank money market funds.

UPDATE: Pay attention to the natural progression – specific to the Florida case, that means pointing fingers at the previous political office holders.

UPDATE 2: Blackrock to the rescue. Excellent call, and it sounds like they are dealing quite fairly and equitably with the remaining fund participants.