Sentinel Halting Fund Redemptions?

Barry just pointed me to this remarkable document over at TheStreet. Apparently Sentinel, a kind of goosed/hedged money market fund, is halting redemptions. There must be more to this, because the letter sure sounds like there was a trader screw-up that is now being attached for convenience to the sub-prime problems.

[TheStreet via Barry]

Comments

  1. Note: This is not a pure money market — rather, its an enhanced money market SUBSTITUE – more like a hedge fund than a pure MM account

  2. the story has been misreported , and of course misinterpreted by the pundits and bloggers of the world