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HomeRaymond James Taking Center Stage in ARS Tragedy
Posted by Larry Doyle on August 27th, 2010 12:05 PM |
The play that has more acts and actors than the longest running shows on Broadway is regrettably anything but entertaining.
Although the entire financial industry would clearly hope it could wake up from the nightmare known as auction-rate securities, the fact is this ongoing saga is no bad dream but a very real tragedy. Which player seems to be taking center stage in this ongoing epic disaster? Enter stage right, Raymond James.
A month ago, we witnessed in a WSJ review, Raymond James Ordered to Buy Back Auction-Rate Securities:
An arbitration panel ordered two units of Raymond James Financial Inc. to buy back $2.5 million in auction-rate securities from an investor. (more…)
