>Citadel holds conference call to calm bondholders
>Last Friday, hedge fund giant Citadel held a conference call with bondholders to quench rumors about its losses, standing with counterparties and need to liquidate holdings. More than 1000 people tried to dial into the call. Breaking Views outlines the substance of the call while noting that it is very difficult for a financial institution to deal with rumors. At a time when former Lehman executives are under investigation for misleading investors, the market simply does not know how to interpret what banks and others are saying. As a result, it is a Catch-22 to say anything at all. The New York Times offers a play-by-play of the call.