November 17, 2008
Taxpayers' Funds to Buy Back ADRs?
Talk about chutzpah -- according to the Investment News, FINRA has asked Treasury to advance funds from the $700 billion TARP to help broker-dealers re-purchase illiquid auction rate securities from clients. (Tip of the hat to Jill Gross, for calling this to my attention). InvNews, Small firms caught in ARS buyback vise.
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