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HomeARS 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…)
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.
