We think the problem is about to get much worse, more complicated and more confusing, the economy is getting worse, so now is the time for some honesty, and now is the time to act.
Washington, DC (PRWEB) June 30, 2008
For the last four months Americas Watchdog has been conducting a national investigation into the U.S. auction rate securities disaster. During this time, Americas Watchdog has been trying to help every victim of the auction rate securities mess, with high quality free help and advice.
According to Americas Watchdog, "The revelation of a UBS executive's e-mail's on Thursday June 26 should be one more reason for the 100,000+ U.S. victims to be outraged, and for all U.S. citizens to demand justice for the victims." However, even with the UBS e-mail; Americas Watchdog says, "If you want your money back, most of you are going to have to fight for it through arbitration, because the economy is tanking, and most Americans have their own problems, and could care less about yours."
Auction rate securities (ARPS or ARS) victims can call Americas Watchdog anytime at 866-714-6466 or visit their Web site at http://ARSWatchdog.com.
"If you own auction rate securities, do you think the problem is about to get solved by the bank or stock brokerage firm that cheated you because of a State Regulatory Agency or by the SEC because of the UBS e-mail? Or do you think a class action will help you? Think again." According to Americas Watchdog, "We think the problem is about to get much worse, more complicated and more confusing, the economy is getting worse, so now is the time for some honesty, and now is the time to act." Victims can call Americas Watchdog anytime at 866-714-6466 or visit their web site at http://ARSWatchdog.com.
If you have an action rate security called a ARPS or ARS, Americas Watchdog says, "you need to get the best securities arbitration attorney to help you get your money back, and we can help identify them for you" (there are only a handful in the entire US). Call Americas Watchdog at 866-714-6466 to explore realistic options.
"What You Were Told by a Stock Broker or Your U.S. Bank (All lies)":
- Auction rate securities are safe
- Auction Rate Securities Are Just Like Cash
- ARPS or ARS are 100% Liquid
There is one hero of this mess: Gretchen Morgenson of the New York Times
- Had it not been for Gretchen Morgenson of the New York Times and her relentless pursuit of the truth, Americas Watchdog doubts there would have been any pressure to even have state investigations, like the one that uncovered the now famous UBS e-mail.
Here is a little honesty:
- Stay away from class actions unless you want ten cents on the dollar.
- Do not believe your broker or banker that everything is ok--it is not
- Do not think for one second the UBS e-mail revelation changes the game. A year ago, Americas Watchdog helped expose the CEO of perhaps the biggest mortgage lender in the U.S. for going on CNBC, and promoting his company's stock, while at the same time he was dumping his stock in his company. According to Americas Watchdog, "Its pretty similar to the UBS e-mail, and in this case the CEO is still walking the streets".
- Even if the states or SEC get involved, the result might be the same as a class action -- $0.10 cents on the dollar
If you have a student loan or a municipal auction rate security, you could be looking at 20 years before you get your money back or more.
Americas Watchdog and their Auction Rate Securities Complaint Center is recommending that most auction rate shares or auction rate preferred shares victims talk with an arbitration law firm that has a specialty in securities law as opposed to joining a class action. The group will make some very good suggestions with respect to the top securities arbitration law firms in the U.S. According to Americas Watchdog, "Call us at 866-714-6466 and we will give you their names and phone numbers."
Every auction rate securities victim needs to understand the secondary market. The secondary market is a place that has been created to buy investors out of the ARPS or ARS investment. While the secondary market will involve a discounted sales price, a good portion of the discount could be recovered in the arbitration process. All auction rate securities victims should call Americas Watchdog at 866-714-6466 to learn more about the auction rate securities secondary market.
So who is the typical auction rate securities victim (in auction rate preferred shares or auction rate shares)? According to Americas Watchdog, the typical victims are as follows:
- Retired people
- People who did not want their money at risk in the U.S. stock market
- People who were about to buy a home
- Parents who had a trust fund for their kids
- Disabled people who need the money so they can pay bills.
- People saving for retirement
- Young people saving for their first home
- Working people saving for retirement
- In many cases a husband or a wife has not told their spouse about getting cheated on a auction rate securities out of fear of divorce.
- In thousands of cases stock brokers put US consumers into auction rate securities or auction rate preferred shares with out permission.
Anyone who purchased an auction rate shares or an auction rate preferred share should call Americas Watchdog at 866-714-6466 or visit their web site at http://ARSWatchdog.com in order to get high quality free information about what to do about their auction rate securities.
Americas Watchdog and its ARS Watchdog are all about protecting consumers in what will turn out to be the single worst case of fraud in U.S. history.