Story Comments

Well? It seems to me..
1. First Stock Maret dropped some -50% during the last Bear Market
2. Now it drops again and God Knows Where it will End
3. Banks Can't be trusted ( again) Like the S&L bail out yrs ago
4. We have Crooked people all over the place
5. Now these ARPS Are in trouble and the Gov't is going to Bail them out with Taxpayers Money. ( Aren't these more Like Preferred stocks? )
6. The Gov't had to Bail out the Banks (again) and I've haven't seen Hundreds of those people Going to Jail Yet for really Committing Outwright Fraud..
7. They say on CNBC that Stocks Aren't Overvalued, they are Under Sold
8. Co.'s are Getting out of the #401k Business ( after being caught for being Corrupted and many going bankrupt along with Pension plans..)

And you wonder why people Don't want to Own stocks anymore?

I generally like and agree with your articles but in this case you really are sadly justifying your poor investment choice. As you say 'It was just a convenient place to park cash while earning a slightly higher return.' Just because you did not identify the risk of not being able to sell your ARS securities does not mean that the chance - albeit deemed remote - of auctions being suspended was not reflected in the yield. I am sure such risk was detailed in the disclosure document that you did not read. You were unlucky, and probably led down the path by an eager Wall Streeter, but you created your own luck - just as when you are right about an investment. You could have avoided all of this by simply investing in a Vanguard US Treasury fund, or practically any other money market investment. Own up to your mistakes, you look much better when you do.