Florida has a state investment pool into which a lot of municipalities put their money. When word got out that they'd taken on a heap of Big Shitpile, they started to pull out.
It shrunk from $27 billion to $15 billion before they voted to stop allowing withdrawals.
Problem is that this isn't just some long term investment pool, it's a short term place to park funds before they're needed for teachers' salaries and whatnot.
