The top 100 stock
market authors
selected for publication in the last week
market authors
selected for publication in the last week
mugged2two1 » Comments » MER
More on MER by mugged2two1
2 comments
Rating: 2
(2 
-
0 
)
-
0 )
-
The Seeking Alpha 100
See all
Seeking Alpha 100 » -
Fastest Climbers
Those with the largestSee all
increase in followers
in the last week
Fastest Climbers » -
Top Commenters
Top commenters,See all
as ranked by their peers
Top Commenters » -
Top Instabloggers
The 100 most activeSee all
Instabloggers.
Top Instabloggers » -
Top StockTalkers
TopSee all
StockTalkers.
Top StockTalkers »
The Auction-Rate Security Mess: Read the Writing on the Wall [View article]
SEC would say... Oh you have to give the money back...
but we won't ask you to admit guilt or any thing like that.
And for UBS, etc... no letting you get your money out....
What about DAMAGES.... I and many others, lost alot of time, sleep
and worry over this. After being lied to so badly by UBS, how could we be assured that We would ever see any of our money.
Punitive damages should be awarded.
Brokerage Houses.. Officers should go to JAIL.
The Auction-Rate Security Mess: Read the Writing on the Wall [View article]
2. Cash Alternatives -- UBS "Financial Advisors" (brokers) all sold these as as good as CD or Money Markets funds. UBS broke FINRA rules in that they were misrepresented as Auctions.
3. The higher rates were neigligible!!! They were only a .1 or .2 points... Investors did NOT buy them because of higher rates for acepting more risk.... Their higher yield was minimal. They were told by UBS that their was NO risk... They were cash alternatives.
Investors were told they could get their money out at any time !!!
No if ands and buts...
The world is now learning that BROKERS can NOT be trusted.
and Governments have been ineffective in regulating them and keeping them honest. A serious blow has been dealt to the Stock and Financial market. The implications for financing the US dept has yet to be fully played out.