Message #18 From:
steelermom1 Date: March 11, 2008 12:19:06 PM
Auction Rate Securities
Many investors have been stuck with Auction Rate Securities they have been unable to sell recently, as auctions of these vehicles have failed. In many cases, banks and brokers touted Auction Rate Securities as safe, short term investments. But in fact, Auction Rate Securities are long-term vehicles, and when auctions fail, they cannot be sold ahead of their maturity. If Auction Rate Securities were sold by firm as short-term investments or cash equivilents, the firms that made such assertions could be liable for an investors losses. More information on this topic is available here:
