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Posts Tagged ‘auction rate securities Wall Street greatest fraud’

Calling All Auction-Rate Holders: OPEN FORUM

Posted by Larry Doyle on January 17th, 2013 8:57 AM |

We are now less than one month away from the five year anniversary of what I believe is the greatest fraud ever perpetrated on Wall Street. Regular readers know I am referencing the ARS (auction-rate securities) tragic debacle. I have been remiss in not addressing this situation for more than a few months and apologize for that.

Some past holders may wonder, “Is the ARS pain ongoing?” Indeed it is. Tens of billions of ARS remain outstanding. Some individuals and institutions still trapped in the painful ARS predicament may wonder if anybody even still cares about their plight. We do. Not only investors, but ARS issuers as well were ensnared by the Wall Street ARS trap and continue to experience very real pain in the process.

I broach this topic once again thanks to a reader who shared the following story about a communications firm entangled in the ARS mess the other day:¬† (more…)

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