The Seattle Times Writes "​County could lose millions because of credit downgrade", saying "The nation'​s subprime-​mortgage crisis has slammed into the halls of local government." King County, Washington removed a troubled investment in Mainsail II, which was downgraded last week, from the $​4.​1 billion King County Investment Pool. "Mainsail and Cheyne [​which the pool also owns] investments are '​SIVs lite' -- or structured investment vehicles whose underlying assets are less diverse than those of other SIVs," says the paper.

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