Also Stuck

Retail Investors Stuck Holding Auction Rate Securities

I got stuck in these securities also being put in them by my UBS "financil advisor" or "wealth manager". Have written to my two Michigan Senators and area Representative. Someone like the SEC has to force these brokerage houses or mutual fund managers to "let my money go!" If this whole thing was not fraud at the highest level, I don't know what you would classify it.

Seems to me the closed end mutual funds that have my money should be forced to de-leverage and give us our money back. Most of them are saying they are working on it, but don't want to, or can't hurt their common investors.

How can we ever trust "Wall Street" anymore. All this while normal company pension funds are being abandoned and we are being told to invest in 401Ks and IRAs for our retirement. And now they hold our money. Sad.