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Related Tags: Ars, Bonds, Pimco, Variable rate demand notes, Auction rate security failure, Fidelity, Countrywide, Auction rate security, Goldman sachs, Auction rate failure, Nuveen, Ars failure, Wells fargo, Auction rate preferreds, Wachovia securities, Tdameritrade, Ubs.
The North American Securities Administrators Association (NASAA) announced today a settlement with Wells Fargo in which the bank agreed to reimburse $1.3 billion related to the sale of auction rate...
A year after the collapse of the auction rate security market, investors are still stuck in an estimated $176 billion of the securities, despite regulators forcing banks to buy back up to $50 billion.
Many who bought auction rate securities are still stuck as some banks, including TDAmeritrade, Fidelity and Wells Fargo, have refused to settle.
The recent Auction Rate Security settlements have been a step forward but their are still a lot of stranded investors.
There is a class of auction rate securities - SLARS - that are causing many of the problems in the ARS market. Their auctions have failed and they have low reset rates. The investment banks are...
The author of this editorial in today's WSJ, a well-respected writer for SmartMoney, alleges that the auction rate securities fiasco really was massive fraud by the investment banks on their clients.
As discussed throughout this site, the auction rate securities fiasco has been a clear cut example of investment banks screwing their wealthy clients. Only when they realized that they were going...
Andrew Cuomo's showing that he is the real deal, not just a silly politician trying to make a statement (he may be that as well). He didn't stop his auction rate securities investigation with UBS,...
Merrill, UBS and Citibank have all now agreed to repurchase outstanding auction rate securities at par over the next several months.
Citigroup has agreed to a settlement with the NY Attorny General's office that will see it buying back about $7.5 billion in securities from individual customers, charities and small businesses....
UBS is getting a slap on the wrist for its role in the auction rate securities matter. It seems that the money is going to make the state whole for its losses (with $1 million going to "educate"...
The auction rate mess is winding down but inquiries are moving forward. Today, Wachovia became the latest bank to be investigated over its auction rate securities practices.
Without great fanfare, this problem has begun to wind down.
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Type
|
Top APY/Rate
|
Institution
|
|
2.51%
|
Everbank
|
|
|
0.38%
|
W&R Advisors
|
|
|
1.65%
|
TotalBank
|
|
|
1.65%
|
The Jacksonville Bank
|
|
|
2.25%
|
Academy Bank / The Jacksonville Bank
|
|
|
2.25%
|
Security Savings Bank
|
|
|
2.60%
|
The Jacksonville Bank
|
|
|
3.00%
|
Flagstar Bank / Hudson City Bank
|
|
3.25% |
FlagStar Bank / Hudson City Bank |
|
|
3.50%
|
Acacia Bank
|
|
|
3.36%
|
US Treasury
|
|
4.51% |
Bank of the Sierra |
|
|
1.64%
|
Northrop Grumman CU
|
|
|
2.30%
|
Alliant CU
|
|
|
2.55%
|
Alliant CU
|
|
|
3.00%
|
Alliant CU
|
|
|
0.09%
|
Various brokerages
|
|
|
0.14%
|
Various brokerages
|
|
|
0.91%
|
Various brokerages
|
|
|
2.35%
|
Various brokerages
|
|
|
3.47%
|
Various brokerages
|
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