Tighten the Reins 'til You See Blood

Dateline April 25, 2010- Auction Rate Preferred Wreckage YET!  http://www.auctionratepreferreds.org/

To date, almost 60% of the outstanding auction-rate securities have been redeemed.

With more than $25 billion still outstanding, some closed-end-fund sponsors have been refinancing the outstanding auction-rate securities aggressively to provide liquidity to the holders.

I was sold ARPS over two years ago that were represented to be a 'liquid investment' equivalent to a money market. It took my broker EIGHT MONTHS to offload this crap - just another case of Wall Street deceit.
 
Don't let ANY Senator off the hook for full Wall Street transparency and disclosure!