Bank of America Discloses $600 Million Columbia Money Funds Bailout. Bank of America will "spend $600 million supporting in-house money-market funds that are exposed to troubled financing entities called structured investment vehicles reports The Wall Street Journal. BoA's Columbia Funds are the 7th largest manager of money market mutual funds with over $150 billion in assets. Columbia joins a number of other fund complexes that have taken action purchasing or protecting structured investment vehicle-related commercial paper and medium-term notes, extendible ABCP and other esoteric mortgage-related securities whose value has come into question during the market's recent flight-from-complexity. See Bloomberg's "Bank of America, Legg Mason Prop Up Their Money Funds" for more.

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