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ARS MASS MUNI BONDS-advice needed
Old 03-26-2009, 11:33 AM   #1
Confused about dryer sheets
Join Date: Jan 2009
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ARS MASS MUNI BONDS-advice needed

I need some advice ....In reviewing my bond portfolio I now realize that I own some Mass Muni ARS(auction rate security) bonds. I was told that they are now illiquid . There are lots of articles on the web that are a year or so old, when these bonds started having problems. I am unable to get any good up-to-date advice. Does anyone have any financial insight into this market, and what the future holds for these ARS bonds? Any advice will be much appreciated. Thanks!

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Old 03-26-2009, 06:54 PM   #2
Dryer sheet wannabe
Join Date: Feb 2008
Posts: 12
Find out if there's a buyback program for the ARSs. I held some Michigan ARSs, and the broker (Morgan Stanley) had a program where they offered to buy them back at par. I'm sure it was something MS did to avoid prosecution, but I was just glad to get out of them. But there was a deadline for the program, and after the deadline the offer to buy them back was over. So search fast just in case there is a similar offer for yours with a deadline. And actually, if there was a buyback for yours and you've missed it, I'd be fussing that I wasn't notified. I initially found out about the offer online, but then was notified in the mail also. I hope you're able to find something!
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