From the Chicago Sun Times, we have Sentinel ices funds as 'fear has overtaken reason'.
Sentinel Management Group Inc., the Northbrook-based cash-management firm, froze a $1.5 billion fund, saying too many investors are trying to withdraw their money.
Sentinel Management, which boasts on its Web site that no client has ever lost money in its fund, makes money mainly by betting on overnight interest rates outpacing yields on short-term Treasury bonds.
A "cash management" firm is losing money. Extraordinary, innit?!?
The fund told clients in a letter that ''fear has overtaken reason'' and most investments have no buyers.
No, sweetheart, fear has not overtaken reason; reason has overtaken greed.
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