Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported Friday.
Chris says as much in his post:
... As much as the big financial companies would like us to believe they're OK, this is alarming. This is not that different from a traditional run on the bank ...
And I quote myself** from a comment I left at Ranger and Lisa's place yesterday:
Gitmo, the secret CIA prisons, and Abu Ghraib are all mile markers on that slippery slope we're heading down toward Third World Banana Republic status.
This development is another.