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HomeRaymond James ARS Customer Requests/Offers Help
Posted by Larry Doyle on August 18th, 2010 7:23 AM |
Sense on Cents has been happy to provide a forum for auction-rate securities holders in general. On a more specific note, Sense on Cents has generated significant ARS interest from individuals remaining engaged with Oppenheimer and E*Trade.
We can now add Raymond James to the list of entities entangled in the auction-rate securities cesspool. While I am not in a position to pass judgment on the merits of every specific ARS client’s situation, the simple fact is so many of these situations are strikingly similar.
I am heartened that Sense on Cents has not only been able to provide moral support to many ARS holders but has also been able to pass along meaningful information in the process. In this spirit, I am compelled to highlight two comments left here Monday by an individual who remains frozen in ARS sold by Raymond James. While reading these comments, put yourself in this writer’s position. The fact is this writer and virtually every ARS investors are connected. I hope my highlighting his comments can help bring this individual and many others both moral and real support. (more…)
Calling All Auction-Rate Securities Holders
Posted by Larry Doyle on August 10th, 2010 6:42 AM |
Without information there can be no real truth. Without truth there can be no real justice. Without justice, what is the quality of our nation and ultimately our civilization?
Why do so many Americans remain enraged at the economic travesty of the last few years? For the very simple reason that those regulators who were charged to protect American investors not only failed in their initial charge but to a large extent have continued to fail investors by not aggressively pursuing justice where financial improprieties–if not outright fraud–transpired.
To this end, why am I not surprised that many auction-rate securities holders have quickly directed their attention and focus to the state of Colorado where securities commissioner Fred Joseph has filed a complaint against E*Trade for improperly marketing and distributing auction-rate securities. Other ARS holders are hoping Commissioner Joseph will take a similar tact on their behalf against other firms for the same reason.
In order for the Colorado state securities commissioner to pursue the truth, he needs the information. (more…)
“E*Trade, Can You Hear Us Now?”
Posted by Larry Doyle on August 2nd, 2010 1:58 PM |
Keep punchin’!!
These words to live by resonate in my ears. How so? My Dad has ended almost every conversation — and certainly every meaningful conversation — in my close to 50 years with those words of wisdom and encouragement. When times are challenging or I find myself encountering a particular hurdle, the little voice in the back of my head whispers those two little words.
I find myself thinking of my Dad’s motivation when I read of specific cases of financial malfeasance. In fact, I have told many people that I write so often about the travesty surrounding the auction-rate securities debacle because I feel these investors have been largely disenfranchised. I welcome speaking up on their behalf. In the process of speaking up and continuing to punch, I have met some amazing people who continue to keep punching themselves. One particular ARS holder stands out for his own determination. He was integral to the complaint filed by Colorado State Securities Commissioner Fred Joseph against E*Trade. (more…)
Persistence Pays Off in Colorado Complaint Against E*Trade
Posted by Larry Doyle on July 24th, 2010 3:50 PM |
“The only thing necessary for the triumph of evil is for good men to do nothing.”
This quote is commonly attributed to Edmund Burke, an Irish statesman, author, orator, and political philosopher who lived in the 1700s. The depth of Burke’s words continue to resonate today. In fact, I thought of his words of wisdom when reflecting on the latest episode in the ongoing saga surrounding the auction-rate securities travesty.
No doubt there remain many miles to go and mountains to climb before real justice and full compensation are afforded all those who were defrauded in the distribution of auction-rate securities. That said, this week brought a small victory for all ARS holders — and one individual specifically — as word broke that the state of Colorado has filed a complaint against E*Trade for improperly distributing auction-rate securities. (more…)
E*Trade: “E”xemplary or “E”gregious??
Posted by Larry Doyle on July 16th, 2010 8:42 PM |
QUESTION: What does the “E” in E*Trade Securities LLC really stand for?
ANSWER: Choice 1 or 2
1: Exemplary…….. If they announce how they will redeem their client’s funds still frozen after 30 months in Auction Rate Securities.
2: Egregious……… if they fail to rescind or redeem all of the Auction Rate Security purchases that some of their brokers fraudulently solicited in 2007, by failing to disclose the risks and potential lack of liquidity, and marketing them to be as safe as cash equivalents or money market funds.
As of now, E*Trade is in a race to the bottom amongst all of its peers in failing to even address the problem or work towards a solution. Does E*Trade have no integrity whatsoever? Come on E*Trade, do the right thing!!
MAKE YOUR ARS CUSTOMERS WHOLE!!!
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On behalf of auction-rate securities investors everywhere, I am happy to run this ad here at Sense on Cents. This specific ad was submitted by a group of E*Trade clients. – LD
Oppenheimer: Do the Right Thing, Redeem Your Auction-Rate Securities
Posted by Larry Doyle on June 30th, 2010 5:14 PM |
Q: Which full-service brokerage firm has NOT redeemed their clients stuck in auction-rate securities for the past 28 months?
Goldman Sachs, Morgan Stanley, Citigroup, Wachovia, Bank of America, Oppenheimer, TD Ameritrade, Fidelity, Merrill Lynch, UBS?
A: Oppenheimer & Company is the only one of these institutions that has not redeemed their private clients’ Auction-Rate Securities that were fraudulently marketed as “just like cash.”
OPPENHEIMER: DO THE RIGHT THING!!!
Q: Which full-service brokerage firm has NOT redeemed their clients stuck in auction-rate securities for the past 28 months?
Goldman Sachs, Morgan Stanley, Citigroup, Wachovia, Bank of America, Oppenheimer, TD Ameritrade, Fidelity, Merrill Lynch, UBS?
A: Oppenheimer & Company is the only one of these institutions that has not redeemed their private clients’ Auction-Rate Securities that were fraudulently marketed as “just like cash.”
OPPENHEIMER: DO THE RIGHT THING!!!
On behalf of auction-rate securities investors everywhere, I am happy to run this ad here at Sense on Cents!! This specific ad was submitted by a group of Oppenheimer clients.
LD
ARS Fight Continues: Another Round with Oppenheimer
Posted by Larry Doyle on June 18th, 2010 11:06 AM |
The fight for justice for auction-rate securities investors has many rounds yet to go. I remain determined to fight, cover this story, and highlight the ongoing fraud and injustice perpetrated on ARS investors everywhere until the last punch has been thrown. On that note, let’s get ready to rumble!
I received a recent message from an individual in Florida. The fact that the financial fraud in this specific case and the ARS market in totality remain largely unknown to the American public is an indictment of Wall Street, the financial industry at large, our financial regulators, the broad financial media, Congress, and ultimately our nation. Let’s strap it back on, and go after those individuals and institutions in our country who have failed to protect our brothers and sisters who were defrauded in the distribution of ARS. (more…)
FINRA Investigates Thomas Weisel for ‘Stuffing’ ARS; Will SEC Investigate FINRA for Same?
Posted by Larry Doyle on May 18th, 2010 3:21 PM |
More evidence of the fraud surrounding auction-rate securities is exposed this morning in a story highlighting how Thomas Weisel Partners ’stuffed’ $15.7 million of auction-rate securities into client accounts in order to raise cash to pay bonuses. The Wall Street Journal reports, Weisel Accused of ‘Stuffing’ Auction-Rate Securities:
Finance industry regulators have charged Thomas Weisel Partners and one of its former executives with improperly “stuffing” $15.7 million of auction-rate securities into client accounts in order to raise cash to pay bonuses. (more…)
ARS Investors Targeting Andrew Cuomo
Posted by Larry Doyle on May 13th, 2010 7:30 AM |
I know fraud when I see it. I also know a miscarriage of justice when I see it. The manner in which auction-rate securities were distributed was a fraud. The manner in which this fraud has been largely adjudicated has been a massive miscarriage of justice. No miscarriage has been greater than that laid at the feet of those auction-rate securities investors who purchased ARS from Oppenheimer and Company.
In true American patriotic spirit, these ARS investors are not taking this injustice sitting down. I have never owned an auction-rate security, but I welcome joining their fight and highlighting their cause. On that note, Andrew Cuomo should watch out. A group of Oppeneheimer ARS investors just released the following statement: (more…)
