Dealbreaker

Entry: Auction Rate Securities: Still Frozen After All This Time

posted by Serge Birbrair

Mar 25, 2008 12:23PM

Guest :) I like your analogy!

Here is the new URL:
http://ARSclassAction.com/

Entry: Auction Rate Securities: Still Frozen After All This Time

posted by Serge Birbrair

Mar 25, 2008 12:54PM

because they are not high-yielding,
which part of
"Most of them pay between ZERO and Libor + 1.25%" you do not understand?

If you wanna buy my "high yielding" ARC paying ZERO interest at the par, I'll give you 30 days net to pay and charge you only 5% interest if you are late.

Entry: Auction Rate Securities: Still Frozen After All This Time

posted by Serge Birbrair

Mar 25, 2008 1:15PM

Next year 1040.....

OK, let me do the quick math:
1 mil in ARCs will result in the loss of 400,000 if one can find a buyer and at 3000 a year is good for 133 years worth of deductions.

Geeze, great plan, maybe UBS aquires me and use me against their profits!

No, wait a minute, they just wrote off 13 billions they lost in subprime mortgages
:(

naaahhh...I'll have to live another 133 years and take advantage of the great $3000 a year deduction!

Maybe Paris Hilton marries me and write me off?

Entry: Auction Rate Securities: Still Frozen After All This Time

posted by Serge Birbrair

Mar 25, 2008 5:06PM

re: This the banks did this for about three months before they finally had to pull the plug, be it for cash or risk reasons. They simply can't help you any more.

yeah, having AAA rated securities on the books is RISKY, having mezzanine subprime mortgages leveraged 30:1 is NOT.

I love your logic. Thank you, Sir. May I have another?

Entry: Merrill Lynch Hit By Auction Rate Securities Lawsuit

posted by Serge Birbrair

Mar 26, 2008 5:06PM

Yes, they are for being active participants in the biggest $330,000,000,000 money heist of the 21st Century
http://ARSclassAction.com

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 10:31AM

The problem with illiquid ARS is huge and more and more it takes toll on the lives of people just like you and me. Some folks entrusted their life savings into thos "safe, secure and liquid" papers.

Here who they are and their stories:
http://ARSvictim.com

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 11:11AM

Disclosures were made!?

1) Webpage doesn't constitute disclosure.

2) Was this page shown to ALL victims who bought ARS from those companies?

3) This "disclosure" didn't exist untill 2006, while those securities were sold for the last 23 years.

You don't beleive me?
http://web.archive.org/web/*/http:/www.ml.com/media/70501.pdf
check for yourself

I was buying thise instruments since 2001 and I never seen or was even told about failed auctions, MAX rates hair above LIBOR and fines paid by all those companies to SEC 2 years ago
(which probably is the #1 reason why those disclosures were made but not publisized to customers)

Do you have any more arguments that this is all our fault for believing our FA's?

Shoot, I'll gladly point you where you went wrong.

http://ARSvictim.com

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 12:36PM

Anonymous @ 11:38AM
1) have you noticed that ALL disclosures from ALL participants are dated 2006 and not earlier?
SEC fined broker-dealers in 2006. You think this is coinsidence?

2) MA Security Division opened investigation today:
http://ARSclassAction.com

Would they investigate into the matter if the case had no merits whatsoever?

3) They are the first, but as the day long, they are not the last State Security Division to jump on it.

guest @ 12:11PM
This is my exact sentiment. I do NOT blame my UBS FA, but I DOI blame his superiors who put him up to it.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 12:38PM

P.S. it took my FA 3! days to obtain prospectus...and UBS was the one who underwrote it! He had no clue what he put me into.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 1:33PM

Guys,
I'll gladly publish your losses, arbitration locale, contact info at
http://ARSvictim.com
Lots of folks find themselves in the similar situations and in the same locales and might share lawyer expenses in the future.

I'll glaldy publish e-mail from your FA as well, lawyers going after Merrill Lynch will be glad to use it.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 3:53PM

...and if you do NOTHING now - you won't get anything.
The fastest way for us to get our money back is to contact Securities and Exchange comission in Washington DC.

Here is the first official response and the results of the follow up phone call:

http://arsclassaction.com/SEC-Letters.html

Phone number and e-mail to reach SEC on this matter are listed on the website.

Don't sit on your tohases, people, sitting it out won't do you any good, if Government won't step in the game.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 5:06PM

guest @4:06PM

Elliot Spitzer WAS Government....I wish he could keep his pecker in his pants, now he is useless.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 7:12PM

Do we have Merrill Lynch brokers here?
I'd like to BUY something,
click
http://arsCLASSaction.com
for details, confidentiality guaranteed.

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 27, 2008 7:16PM

guest @ 5:18PM
Posting your story in the blogs won't get you your money back.
Contacting SEC has much better chance for you to see your money.

Here is the letter from SEC and some phone call details:
http://arsclassaction.com/SEC-Letters.html

If you wish, I can also post your story at
http://ARSvictim.com so others in your situation could contact you direct.

Entry: Auction Rate Securities: Still Frozen After All This Time

posted by Serge Birbrair

Mar 31, 2008 6:00AM

There is a good chance the SEC Court rulings were broken by your broker/dealer:
http://arsclassaction.com/SEC.html
worth checking into.

Also, Bill Gross in his speech on March 31, 2003 made an interesting description and prophecy which came all true. We ARE the "plankton"

http://arsclassaction.com/billgross.html

Entry: Merrill Lynch Hit By Auction Rate Securities Lawsuit

posted by Serge Birbrair

Mar 31, 2008 6:56AM

No one deceived anybody!?

I don't think so:
http://arsclassaction.com/SEC.html

The only person who was straight from the get go was Bill Gross who called us "plankton" back in 2003
http://arsclassaction.com/billgross.html

Entry: Auction Rate Securities: Were They Sold As 'Highly Liquid'?

posted by Serge Birbrair

Mar 31, 2008 7:12AM

Here is where some bankers might be in violation of the SEC court ruling:
http://arsclassaction.com/SEC.html

I NEVER got the disclosure SEC prescribes as a must.