Auction Rate scandal. This is really pituful

stock777

stock777

Don't know how many of you are stuck in some kind of "auction rate paper", but this report , put out by Merrill Lynch on Feb 8, 2008, literally AS the market was being ABANDONED by the banks and brokers, is a real eye opener.

http://www.arsclassaction.com/Merrill_Lynch.pdf


This must be the most clueless analyst on Wall Street.

" Nothing to worry about ladies and gents, and as usual, tonight's entertainment on our fine ship , the Titanic, is coming right up."
 
I've got some auction rates at Merrill and am very pleased. I don't need the money at this time and have been receiving penalty-rate interest for weeks(~6%+). Also triple tax free.
 
Sounds like you're in something that you probably can sell eventually.

If you had will them to your great grandchildren, would you be equally pleased?


Many are stuck in low paying ARPS that they didn't even know their advisors put them in.

It's a major scandal. We have lots of those lately.

Bring back the public hanging NOW.
 
Once again, I am early and often.


This is just NOW hitting the papers and I gave it to you in April.

You don't deserve me.
 
Quote from stock777:

Once again, I am early and often.


This is just NOW hitting the papers and I gave it to you in April.

You don't deserve me.
More...

Who the hell is this directed to?

BTW, I am out of my auction rates. ML made good.
 
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