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Posts Tagged ‘ars update’

ARS UPDATE: Cries for Help Go Unanswered

Posted by Larry Doyle on February 27th, 2013 8:21 AM |

February 14, 2008: The auction-rate securities market freezes, and tens of thousands of our fellow citizens’ lives are forever changed as that simple American virtue of “trust” goes out the window never to return.

I have long described the ARS market as Wall Street’s greatest scam. Five years out, the pain of this fraud continues and ARS investors’ cries for help go unanswered.

What happened to our country? I will tell you what happened. Our government and regulators are ineffectual at best and corrupt at worst. You do not think so? Let’s navigate.  (more…)

ARS Update: STILL Hostage in the ARS Roach Motel

Posted by Larry Doyle on March 6th, 2012 4:38 PM |

Wall Street may think it is back to business as usual, but what about those investors and our fellow American citizens who were left behind and forgotten as a result of the crisis from 2008? Of whom do I speak?

The tens of thousands of our fellow citizens who remain hostage in the ARS Roach Motels.

Who are the managers of seemingly the most grotesque ARS Roach Motels? Oppenheimer Holdings and Pimco. How do we know?  (more…)

Auction Rate Securities Update: Raymond James Claims ‘Meritorious Defenses’

Posted by Larry Doyle on May 11th, 2011 9:14 AM |

Three plus years and counting and with little indication that a full blown settlement of the auction-rate securities nightmare is close to happening, the crowd at Raymond James asserts it has ‘meritorious defenses’ against making its clients whole.

Really? How interesting.

Does Raymond James hold a trump card that nobody else is even aware is in the deck? Why is it that Raymond James provides such bluster at this time? Is the heat rising in Ray Ja’s kitchen? Let’s navigate as Investment News yesterday highlighted, ARS Mess Could Cost Raymond James Up to $50 Million,

Raymond James Financial Inc. said today it could face a loss of $25 million to $50 million if it immediately has to buy back distressed auction-rate securities from clients.  (more…)






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