Cuomo Targets More Banks In Auction-Rate Securities
August 11, 2008 at 17:21 PM EDT
Since beginning of fiscal ‘08, auction-rate securities have been failing, leaving in the process - investors stuck with highly illiquid (bad) paper and sometimes with no maturity date – with unrealistic yields, given the illiquidity of the securities. For those holding such paper, if the current situation persists , unfortunately - there is only the [...]