It's beginning to look a lot like exodus

Investors withdraw $1.2 bln from Florida fund: WSJ

(Reuters) - Investors promptly withdrew $1.2 billion in funds from Florida's local government investment pool after the fund had halted withdrawals for a week, The Wall Street Journal reported on Friday.

The investment pool, hit by subprime mortgage-related investments, now has about $10.8 billion in its main operating fund, compared with $27 billion in September, the Journal reported.

Like similar funds run by other states, the Florida Local Government Investment Pool was a short-term fund, similar to a money market fund, for school districts and other local governments to earn interest on cash holdings.