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Posts Tagged ‘frozen auction rate securities’

ARS Update: Raymond James and Morgan Keegan ARS Investors’ ‘Nightmare Over’

Posted by Larry Doyle on June 30th, 2011 4:29 AM |

I strongly believe that the marketing and distribution of auction-rate securities was the single greatest scam perpetrated on investors by Wall Street.

While a full forty months have passed since the ARS market failed that fateful day in February 2008, approximately $100 billion of the original $330 billion ARS remain frozen.

Many thousands of investors continue to wonder if they will ever get a full return of their cash locked up in what were supposedly ‘cash-alternative’, ‘cash-surrogate’, ‘totally liquid’, ‘as good as cash’, ‘money market type’ instruments.

Forty plus months. $100 billion. You think you have stress. Place yourself in the position of these investors. Sense on Cents continues to bang the drum for ARS investors and now we witness two more ‘wins’ but one real ‘disappointment’ on the ARS front. Let’s navigate.


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!!



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

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