Harry Newton

http://www.AuctionRatePreferreds.org

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Thu Mar 6th 00:30 AM | Rating: 0 0
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Our Run-In With Auction Rate Securities - And What It Taught Me About Markets

I have $4.5 million of Auction Rate Preferreds. They are different to the individual issuer bonds talked about above. Virtually all auction rate preferred auctions have failed in the past three weeks. Thousands of people (including me) are now looking at their "cash equivalents" as long-term, infinite-maturity bonds. This is intensely annoying, especially to owners who held their April 15 tax payments in these ARPs and now can't get to the money. In recent days I have been writing about ARPs on my web site, which you can now reach (for free) AuctionRatePreferreds..... If you own these things, please visit my web site and email with me (my email address is on the web site). I talk to ARPs owners every day and every day we collectively think of things we can do. I am not saying I have "the solution." But we have ideas. I am not a lawyer. I am not looking for clients. I am looking for a way to get at my cash. Thanks -- Harry Newton.
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