David Nicklaus: Failure of Wall Street's auction-rate bonds hits Main Street (St. Louis Post-Dispatch)
Story date: 2008-04-12 04:47:43
Added on: 2008-04-12 21:00:21
William Loehmann was just looking for a place to park $300,000 while he and his wife made the transition from semi-retirement to full retirement. His broker found him some bonds, issued by the Missouri Higher Education Loan Authority, that paid a little bit above money-market rates.
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