ARS victim

Retail Investors Stuck Holding Auction Rate Securities

Nice article. When is someone going to connect the dots and call it what it is "The fraud of the century." We got sucked into ARS as of 10/07, just as ML realized it was short on cash. Not sending any prospectus was a plus. When I finally received one after the auctions were closed I did some research. Everyone of the securities I own is underwritten by ML PLUS each company is really a hedge fund in disguise. They simply dumped their inventory in my account. For my IRA I wanted MM liquidity while I was trading stocks and now I'm a stockholder in hedge funds? I wouldn't touch any brokerage stock for a long time nor will I ever use a financial advisor again. ML has too many conflicts of interest and can not be trusted to protect me. They stupidly screwed their best customers. I don't see them wanting this to go to a class action suit with a jury trial.