Americas Watchdog Wonders Why Does Wells Fargo & Others Get A Free Pass On The Auction Rate Securities?

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Americas Watchdog & its Wall Street Fraud Watchdog have been trying to assist cheated consumers in the US auction rate securities debacle for nine months. The group commends the Attorney General's of New York, Massachusetts & Missouri for their efforts in obtaining settlements for the retail auction rate securities customers of UBS, Merrill Lynch, Citi, Bank of America and others. The group is now asking, "Where are the retail settlements with Wells Fargo, and others who sold these failed cash equivalents?" According to the Wall Street Fraud Watchdog, "every auction rate securities victim we have talked to was told the same thing by their bank investment advisor or stock broker; auction rate securities are 100% safe, they are just like cash, they are liquid, etc." And now literally tens of thousands of US or international investors are left to wonder what happened to their life savings. The Wall Street Fraud Watchdog is trying to help all auction rate securities victims, with helpful advise or suggestions. An auction rate securities victim can call the Wall Street Fraud Watchdog anytime at 866-714-6466 or they can visit the groups web site at Http://WallStreetFraudWatchdog.com

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Americas Watchdog's Wall Street Fraud Watchdog is demanding action on the part of state attorney generals whose citizens were duped with a Wall Street cash equivalent scheme called action rate securities, aka ARS, ARPS, SLARS. etc. According to the group, "At least 145,000 US citizens were lied to, in this $330 billion dollar con job, and we want action from all state attorney generals. At the top of our list is Wells Fargo Bank for not refunding the money of their auction rate securities clients. Bank of America, Citi Bank, Wachovia which is now owned by Wells Fargo have all settled. Why haven't the attorney generals of New York, Massachusetts & Missouri done anything about the Wells Fargo auction rate securities clients?"

Aside from Wells Fargo Bank, other major participants that have yet to settle with their retail auction rate securities clients include:

  •         Oppenheimer
  •      Raymond James
  •      Up to 100 small or regional banks or boutique stock brokerage firms.

According to the Wall Street Fraud Watchdog, "We want to hear from every investor who was duped into buying these anything but safe or liquid investments. They can call us anytime at 866-714-6466, or visit our web site at Http://WallStreetFraudWatchdog.Com . We are not going away and we are not going to stop fighting for auction rate securities investors."

The Wall Street Fraud Watchdog also has current investigations involving the following:

  •      Any investor who purchased the now devalued Schwab Yield Plus can call the Wall Street Fraud Watchdog anytime at 866-714-6466.

  •      Any investor who purchased a product from TD AMERITRADE called Reserve Yield Plus can call the Wall Street Fraud Watchdog anytime at 866-714-6466.

Any investor who purchased any failed cash equivalent from a US stock brokerage firm, or US bank investment advisor can call the Wall Street Fraud Watchdog anytime at 866-714-6466.

The Wall Street Fraud Watchdog is warning all US investors to steer clear of bank investment advisors or stock brokers selling any type of cash equivalent investment product, unless the broker or bank investment advisor will put in writing that the investment is 100% safe.

Auction rate securities victim or a victims of other Wall Street cash equivalent investment schemes can call the Wall Street Fraud Watchdog anytime at 866-714-6466 or visit their web site at Http://WallStreetFraudWatchdog.Com

The Wall Street Fraud Watchdog is all about investor protection and Wall Street integrity.

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THOMAS MARTIN
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