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Auction-Rate Bailouts Pose Cost Worries.
- Source :
-
Wall Street Journal - Eastern Edition . 8/12/2008, Vol. 252 Issue 36, pC11. 0p. - Publication Year :
- 2008
-
Abstract
- The article reports on the financial burden suffered by closed-end fund firms prior to pressures from regulators in the U.S. in 2008. Closed-end fund firms previously helped investors bail out of auction-rate securities (ARS) through redemptions with pricey lines of credit and syndicated bank loans. Regulators are demanding closed-end fund firms to pay investors cash equivalent with higher yields posing cost worries. Wall Street banks decided to buy back ARS which offers relief to closed-end fund firms to surpass the crisis.
Details
- Language :
- English
- ISSN :
- 00999660
- Volume :
- 252
- Issue :
- 36
- Database :
- Academic Search Index
- Journal :
- Wall Street Journal - Eastern Edition
- Publication Type :
- News
- Accession number :
- 34097264