"The science of frozen liquidity"
Chicago Tribune writes "The science of frozen liquidity". It is subtitled, "Vanguard and says, "Anyone who thinks irrational panic is all that's behind the financial crisis sweeping the globe hasn't had a conversation with David Glocke. As the manager of $138 billion in Vanguard Group money market funds, Glocke's behavior helps explain why the credit markets have seized up. But his motives are nothing if not rational. For more than a year, Glocke and countless fund managers like him have watched the banking sector come undone, causing them to slowly pull back on billions of dollars that help lubricate the nation's financial system. Now, as world financial leaders try to entice them out of their shells with one extraordinary step after another, Glocke and his colleagues are in no hurry to comply."
