BlackRock affected by crisis?

We haven't heard a lot about BlackRock in all the financial turmoil, apart from CEO Larry Fink's candidacy for the top jobs at Merrill Lynch and Citigroup. But now, it is one of several mutual fund companies grappling with the auction rate securities mess, according to Financial News Online. BlackRock sponsors 66 funds that issue auction rate preferred securities. Along with Nuveen, Eaton Vance and others, it is considering ways to enhance liquidity. More auctions are failing and at some point, investors are going to get really restive. 

For more:
- here's the Financial News Online article

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