For eleven months, Americas Watchdog & its Wall Street Fraud Watchdog have been trying to help all victims of the auction rate securities disaster. On February 14th 2008 the auction rate securities markets collapsed, and were frozen. Since that time some of the largest sellers of auction rate securities have settled with state regulators and the retail customers have been offered their money back. According to the Wall Street Fraud Watchdog, "there is one very big problem. The settlements or proposed settlements may not cover legal bills, business losses, or business interruptions due to illiquid auction rate securities, tax penalties, or other losses, due to the frozen auction rate securities markets." Auction rate securities were sold to consumers and businesses as just like cash, liquid, no risk, etc. The Wall Street Fraud Watchdog says," it was a lie, and banks, stock brokers and banks investment advisors should be forced to pay the real costs back to the auction rate securities victims. We want to hear from every auction rate securities investor who had legal or other costs associated with the auction rate securities debacle. Auction rate securities victims can call the Wall Street Fraud Watchdog anytime at 866-714-6466, or they can contact them via their web site at Http://WallStreetFraudWatchdog.Com (PRWeb Jan 14, 2009)
Read the full story at http://www.prweb.com/releases/2009/01/prweb1861684.htm
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[Source: PRWeb: Home and Family Banking / Personal Finance]
