Lehman Bros bankruptcy forced the Reserve Fund to break the buck
Lehman Bros bankruptcy (due to exposure to high risk financial instruments) forced The Reserve Fund to break the buck (i.e. it's funds were worth less than people had paid in).
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
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Immediate triggers of the financial crisis? »Immediate triggers of the financial crisis?
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Sudden evaporation of market confidence/trust »Sudden evaporation of market confidence/trust
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Commercial paper market froze up suddenly »Commercial paper market froze up suddenly
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Money Market Mutual funds moved into Treasury Bills »Money Market Mutual funds moved into Treasury Bills
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Money Market Mutual Funds spooked »Money Market Mutual Funds spooked
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Lehman Bros bankruptcy forced the Reserve Fund to break the buck
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