Americas Watchdog Expands Its Advocacy for Individuals or Businesses Cheated in the Auction Rate Securities Debacle and Lashes Out on $700 Billion Dollar Bank Welfare

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For nearly eight months, Americas Watchdog has been battling for all consumers and businesses victimized by Wall Street stock brokerage firms, investment bankers and U.S. banks involved in the sales of extremely high risk securities, called auction rate securities. According to Americas Watchdog, "While there have been a small number of settlements announced involving the retail clients, many sellers of auction rate securities have not been forced into a settlement. Even worse, many larger investors or businesses that were sold a bill of goods by a stock broker or U.S. bank investment advisor, will never see a settlement because of the size of their investment. And now bankruptcy's involving Lehman Brothers and Washington Mutual could change everything." Americas Watchdog says, "We want to hear from the auction rate securities victims who stand to lose millions, because they are being categorized as sophisticated investors. We consider fraud to be still be fraud, regardless if the investment was $25,000 or $250 million." Victims or businesses that have been victimized in the auction rate securities scandal with amounts above $10 million should call Americas Watchdog's Wall Street Fraud Watchdog at 866-714-6466, or visit their Web site at

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Americas Watchdog is all about consumer & taxpayer protection. It is long over due.

Americas Watchdog and its Wall Street Fraud Watchdog have been fighting to get full refunds for the victims of auction rate securities for almost eight months. A very small number of what Americas Watchdog considers being criminals have been forced into settlements involving auction rate securities involving their, what have been referred to as "retail clients" (retail clients equals auction rate securities victims with investments under $4 million to $10 million invested).

According to Americas Watchdog, "We are not letting any Wall Street brand name stock broker, or any U.S. bank off the hook, relative to settlements with larger business or individual investors. The auction rate securities con job is a $330 billion financial disaster, and we are going to try to see to it that every penny gets refunded, regardless of the size of the investor." Large or small auction rate securities investors can contact Americas Watchdog's Wall Street Fraud Watchdog anytime at 866-714-6466, or they can visit their Web site at

Americas Watchdog is a leader in protecting U.S. shareholders and tax payers. According to the group, "Our nation is on the verge of bailing out the bank that knowingly bought a bankrupt Countrywide Home Loans in early July, as part of the $700 billion U.S. bank bailout. We estimate that toxic Countrywide Home Loans could easily be $50+ billion. And that now becomes a taxpayer responsibility? The story gets worse. Senate Finance Chairman Dodd has taken tens of thousands of dollars from the U.S. bank that purchased Countrywide, since the first of the year. How about the victims of the auction rate securities fraud Senator Dodd, or do auction rate securities victims have to pay you off too?" (source Hartford Courant 6-22-2008)

"As part of the $700 billion U.S. bank/Investment Banker bailout, instead of earmarking millions of dollars for Senator Obama's 'community activist group' Acorn, that really needs a thorough IRS audit and Department of Justice investigation, how about including $330 billion for auction rate securities victims -- they did not lie on a mortgage loan application and then discover they could not make the payments, or attempt to flip a house; it was their hard earned money."

Note to the National Press: Americas Watchdog states, "We are sure it's fun beating the crap out of Gov. Sarah Palin everyday, but every DC news organization knows about the money flooding into to U.S. Sen. Dodd's offices from banks and investment bankers (one in particular), how about a story about that? And a story about auction rate securities victims?"

Americas Watchdog says, "We do not want larger auction rate securities victims thinking they have been kicked to the curb. We do not want larger auction rate securities victims including individuals, businesses or organizations wasting money on outside legal counsel, only to discover the law firm is conflicted out, or is lacking in the necessary arbitration skills to recover their lost or frozen money. We have identified the most competent and capable securities arbitration law firms in the United States, and we will work with every victim to make certain they have the absolute best resources available to them."

Individuals, businesses, or organizations that are larger investors should call the Wall Street Fraud Watchdog anytime at 866-714-6464, or visit their Web site at

"Americas Watchdog is all about consumer & taxpayer protection. It is long over due."


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