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HomeARS Investor Seeks Help for ‘Theft by Any Other Name’
Posted by Larry Doyle on August 15th, 2011 6:00 AM |
The twists and turns in the ongoing saga of the auction-rate securities nightmare are replete with some of the most gut-wrenching personal stories I have experienced.
Regulators like to trumpet the progress made on cleaning up the ARS mess over the years.
Let’s hold the applause for these regulators because a full three and a half years have passed and approximately $100 billion remains frozen in those ARS which were pitched as cash surrogate, money market equivalent securities.
Over and above the cash, little attention is paid by the media or others to elevate and expose the personal nightmares of those individuals and businesses which continue to hold these frozen ARS. (more…)
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.
