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Good Day, Bad Day
December 7, 2007
GOOD DAY FOR: Cracking the floodgates, after Florida local governments withdrew more than $1.1 billion from a state-run investment pool in the first day after a week-long freeze on the account. Before the freeze, depositors had withdrawn more than $10 billion of the $25 billion fund following reports that it had exposure to mortgage-backed securities. Florida officials expressed relief that more wasn’t taken out. (AP in The New York Times)
BAD DAY FOR: Care Bears, after former Chicago football coach Mike Ditka’s charity for needy retired players has given out only $57,000 of the more than $1.3 million it has collected. Ditka has chastised the players union and Congress for not helping the players more. By this point, “you ought to be announcing ‘We just gave away a half a million,’” union spokesman Carl Francis said of Ditka. “Unless, of course, you didn’t.” (USA Today)
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