"Cautions for Treasurers on Auction Rate Securities"

Nov 21 07

AFP writes "Cautions for Treasurers on Auction Rate Securities". The Association of Financial Professionals (www.afponline.org) has posted an interview with John Rieger, AFP's director of financial accounting and reporting, on recent concerns with auction rate securities. Rieger discusses failed auctions and the "significant impact" on AFP member corporations. "The failure of an auction means that companies now own those securities, and the underlying securities are generally 20 or 30 years to maturity," says the brief. See also, Bloomberg's "Rigged Bids, SEC Help Dealers as Auction Bonds Fail".

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