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HomeAuction Rate Pain Continues: February 14, 2008 to February 14, 2012 Recommended
Posted by Larry Doyle on February 14th, 2012 6:07 AM |
“Larry, they have forgotten about me. I do not know what to do and I have nowhere to turn.”
In so many words, I received that message from an Oppenheimer Holdings customer just yesterday who continues to be unable to access his cash which remains locked up in auction-rate securities a full four years to the day that the ARS market totally froze.
This is America?
We have an administration and regulators which fabricate settlements and try to support people many of whom were financially imprudent? But who is standing up and speaking out on behalf of those remaining ARS investors who were defrauded by financial intermediaries and cannot access their funds from what were supposedly cash surrogate investments?
Four full years later and tens of thousands of our fellow citizens remain largely disenfranchised and disowned and unable to access tens of billions of dollars that is THEIR MONEY?
This is America? (more…)
ARS Update: Jefferson County, Oppenheimer Holdings
Posted by Larry Doyle on November 15th, 2011 7:33 PM |
The world of Wall Street may go on but for many tens of thousands of investors their financial world has remained locked in place since February 2008 when the $330 billion auction-rate market froze like the tundra.
The pain of that reality remains fresh for so many who remain unable to access THEIR cash and receive real justice for THEIR emotional pain and anguish.
Wall Street certainly wishes that this ARS issue could or would just go away. (more…)
