Small investors removed funds from the nation’s...
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Small investors removed funds from the nation’s banking system--particularly savings and loans--at the rate of $6 billion a week late last month, according to information gathered for an investment survey. Since early January, investors pulled nearly $19 billion from commercial banks and thrifts, according to data provided to Money magazine for its Small Investor Index. Savings and loans lost 2.5% of their savings and money market account assets, the survey found. Much of this money flowed to money market funds offered by mutual fund companies and brokerages, the magazine said.
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