On Oct 1, 2008, at 8:15 AM, Carl Denk wrote:

> Were they required specifically to invest in Lehman Bros.?? Maybe they
> should have diversified and invested other places after careful
> oversight.

the schools were required to invest in the county fund.  The County  
fund had 6% in Lehman; that sounds a bit high to me, but it's not  
undiversified.  (IIRC, 6% is the max that certain types of funds are  
allowed to invest in a single company?)

BillW

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