Part of your BUDGET WOES, no?
"Auction-rate securities are long-term debt, primarily issued by municipalities, with interest rates reset periodically through auctions. The $330 billion market collapsed last year as dealers stopped bidding to keep auctions from failing, leaving clients unable to sell their supposedly liquid investments."
And look who is benefiting from your troubles, American communities:
Municipal Bond Milking
Barney Frank Benefited From State Debts
Yup, Barney is your lovable, always-looking-out-for-the-little-guy, liberal -- or so the Massachusetts myth would have you believe.
Turns out he is PROFITING off YOUR MISERY -- as he HEADS the OVERSIGHT COMMITTEE!
This guy is STEEPED in CONFLICT-of-INTEREST CORRUPTION!
