The margin loans being offered by the banks or stock brokers contain provisions that preclude a victims ability to file a arbitration case or a lawsuit; so do not do this.
Washington, DC (PRWEB) July 21, 2008
Americas Watchdog has been trying to assist all victims of the US auction rate securities disaster for five months. Within the last three weeks a UBS e-mail has surfaced regarding ARS/ARPS risk as far back as the summer of 2007, and on Thursday, July 17, 2008 the St. Louis offices of Wachovia bank were raided by state regulators. According to Americas Watchdog, "These are all very positive signs, but they will not get anybody most of their money back. There are over 145,000 US auction rate securities victims, and everyone of them needs to plan on fighting for their money, if they want to get most of it back. No one is going to come in and fix this disaster with a magic wand."
Auction rate securities victims can call Americas Watchdog any tine at 866-714-6466 or visit their web site at Http://ARSWatchdog.Com According to the group, "As of June 15, 2008 only 88 FINRA arbitration cases had been filed on the auction rate securities melt Down? Its the absolute single worst case of fraud in US history, with a 145,000+ victims, and only 88 people have filed an arbitration case with FINRA?"
According to Americas Watchdog, "We just discovered from an historical standpoint, only 1 in 10 victims of a financial disaster like auction rate securities, ever get their money back. Again from an historical standpoint most people just lose the money. We want every victim to get their money back, or as much of it as possible, but they need to get off the fence, and start working on that goal. We are especially worried about victims who were sold student loans." Americas Watchdog has been involved in a national investigation of auction rate securities since February 14, 2008, and has talked to over 2000 victims.
Americas Watchdog is also strongly encouraging all victims to not get involved in a class action lawsuit involving auction rate securities, as this type of legal action may only give the victim $0.10 cents on the dollar. Further the group is strongly encouraging victims to not accept the "loan offers" being suggested by the US banks and stock brokerage firms that participated in the $330 billion dollar fraud. According to the group, "The margin loans being offered by the banks or stock brokers contain provisions that preclude a victims ability to file a arbitration case or a lawsuit; so do not do this."
"After talking with dozens of legal experts, state and federal officials, Americas Watchdog is convinced that arbitration is the absolute best legal option for 99.99% of all auction rate securities victims, and they will gladly give out the names and phone numbers of the best security arbitration firms in the nation."
At the same time they would like to explain the secondary market, and the Restricted Trading Network to every US auction rate securities victim. Auction rate securities victims should call Americas Watchdog for the name and number of a well qualified lawyer with a solid background in securities arbitration anytime at 866-714-6466, or visit their web site at http://ARSWatchdog.com.
Americas Watchdog is all about consumer protection and corporate responsibility.