The debacle hit individual investors especially hard.
When state regulators investigated the circumstances surrounding auction-rate failures, they found that some of the firms selling the securities had turned their aggressive sales pitches on small investors even when astute institutional buyers had already seen trouble and stopped buying.
Regulators have since forced many brokerage firms that underwrote or sold the securities to buy back their clients’ holdings.
Eight large and small firms have already settled, or agreed to settle, auction-rate cases with the Securities and Exchange Commission.
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08/02 - 08/09
- Survey: Sit Back and Watch (SBW) Award
- Off-loading the risky credit default swaps
- Lehman Brothers Victim alliance in Hong Kong
- Happy National Day
- Suing the Wrong Party
- Platform number in MRT stations
- TRANSPARENCY IN INSURANCE: Policyholders underpaid...
- Two Canadians' views about Singapore
- Call to investors
- Volunteers for 22 August Gathering
- Great Eastern Life is maganimous
- Conduct in this blog
- TODAY:Don't bet on FIs To follow GE's lead
- Timing the stockmarket
- US Health debate: cost and benefits
- Moderation of my blog
- New ez-Link card
- Higher motor premiums
- Pricetag to raise a child - US$ 221,190
- Early redemption of mortgage loan
- SCMP:Watchdog accused over Lehman probe decision
- he Standard:SFC to tackle equity-linked notes fias...
- SCMP:Flawed system
- Internet shop - selling TKL books
- Dementia: keep it at bay
- GreatLink Choice insurance products valued between...
- Cheaper taxis
- Survey: Favourite Singaporean expressions
- SCMP:Buy-back package must be extended, investors ...
- NYTimes: Troubled Banks, Hugh Bonuses
- NYTimes: Rewarding Bad Actors ( Who Make Us Poorer...
- European CityMobile and CyCab
- Prudential Yield 15/20
- NYT: Auction rate securities
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