The saga goes on http://www.usnews.com/blogs/new-money/2008/9/18/shareholders-sue-reserve-primary-fund/comments/3 http://www.usnews.com/blogs/new-money/2008/9/18/shareholders-sue-reserve-primary-fund/comments/3
Old news. http://www.marketwatch.com/News/Story/Story.aspx?guid={2820A630-C31B-44F8-8D3D-7BB6990913B3}&siteid=yhoof2
I feel for ya. I have some $ at ameritrade but was in the td ameritrade fund. when it hit the fan tues, I moved it to the BANK FDIC sweep. Did the same thing for a few weeks last year. I think the losses here were magnified because they let 30 billion out the door on Monday at 1.00. So the remaining suckers paid at least twice what they would have for the LEH toilet paper.
I can't get anything out of the customer service guy who said he was a bond manager. Reading through the posts in the link you can see any conclusions by retail investors would just be guessing. I've no recourse but to wait and accept what I get or get into a class action suit should one surface. Of course I have some of the same objections contributed in the link but information I might glean would be second hand heresay per time and proprietary issues. I won't be complacent but I'm realistic. I'm just glad I don't have 6 figures into it like some investors. But, I am in fertilizer.
97 cents on a dollar is great when you consider what could have happened. Just be glad you did not have your life savings in the Auction Rate Preferred Markets where some may not get their money back for 30 years or never.
Glad to pass along some good news in this f#$%ed up time. TD Ameritrade Holding Corp. said it will commit as much as $50 million to make its clients whole for a 3% loss in the Reserve Primary Fund, a money-market fund that broke the buck last week.