American investors catch a cold from frozen auction-rate securities Last Updated: 11:27pm BST 24/08/2008 Serge Birbrair is just one of hundreds of thousands of Americans stung by the securities market scandal. James Quinn reports All Serge Birbrair wanted to do was to pay his daughter's college fees. For the retiree, who fled the former Soviet Union in 1979, funding his child through university was not only a matter of principle but one of pride. Having saved and invested sensibly for decades, paying the fees should not have been a problem. But that was before he invested in auction-rate securities (ARS),...
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American investors catch a cold from frozen auction-rate securities
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