"​Lifting the Lid: Auction-​rate debt tying up corporate cash" writes Reuters. The piece updates the problems with auction-​rate securities, "​debt instruments once touted as a highly liquid cash management strategy". It says, "Some 60 auctions have failed in recent months, representing about $​6 billion in tied-​up assets, according to Peter Crane, president and CEO of Crane Data LLC. See also, Bloomberg'​s "​Munis Poised for Year'​s First Weekly Drop on Insurer Concerns".

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