Bloomberg writes "Blackrock, Nuveen Sell New Preferred Haunted by Failed Auctions", saying, "Nuveen Investments Inc., BlackRock Inc. and Eaton Vance Corp., the biggest U.S. closed-end fund companies, plan to sell a new form of preferred share that can be bought by money-market funds." It quotes Peter Crane, "I think the funds are going to be gun-shy.... The last thing they want is to be in a story that they're buying auction-rate securities." The piece also quotes Reserve's Bruce Bent, "There are certain advantages to being a pioneer, but not a pioneer with an arrow in his back."