There is some news this morning that The Sentinel Group has sent a letter to their clients stating that they could not honor redemption requests from money market accounts. And went on to say that the only way they could honor the requests would be to sell securities at deep discounts which would be significant losses for their clients.
This is another significant event in the financial sector and has the big name brokerages and lenders down.
Tuesday, August 14, 2007
Markets drop on news of another redemption issue
Posted by Fp80 at 8/14/2007 11:25:00 AM
Labels: Market update
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1 Comment:
Thanks for the information updates.
Good job done.
Larry
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