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<title> SecondMarket</title>
<link>http://www.secondmarket.com</link>
<description>With 3,000 members managing over $1 trillion in investable assets, SecondMarket brings together buyers and sellers in the largest marketplace for illiquid assets. SecondMarket's members include global financial institutions, hedge funds, private equity firms, mutual funds, and other institutional and accredited investors.</description>
<language>en-us</language>
<pubDate>Mon, 15 Mar 2010 15:43:38 -0500</pubDate>
<lastBuildDate>Mon, 15 Mar 2010 15:43:38 -0500</lastBuildDate>
<copyright>Copyright 2010, SecondMarket</copyright>
<item>
<title><![CDATA[Health-Care and Student-Loan Bills to Be Paired, Pelosi Says]]></title>
<link>http://www.secondmarket.com/articles/healthcare-and-studentloan-bills-to-be-paired-pelosi-says.html</link>
<pubDate>Mon, 15 Mar 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    House Speaker Nancy Pelosi said Friday, March 12th, that health-care legislation, which House Democrats hope to pass by the end of next week, would also include a proposal to overhaul the nation's student-loan program
    Combining the student-loan and health-care legislation &quot;has always been part of the plan,&quot; Ms. Pelosi (D., Calif.) said
]]></description>
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<title><![CDATA[Municipal Regulator Seeking Expanded Floating-Rate Disclosure]]></title>
<link>http://www.secondmarket.com/articles/municipal-regulator-seeking-expanded-floatingrate-disclosure.html</link>
<pubDate>Tue, 09 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    The top rulemaker, Municipal Securities Rulemaking Board, in the $2.8 trillion municipal bond market is seeking greater transparency on auction-rate securities and variable-rate demand obligations to help investors
    The Municipal Securities Rulemaking Board, in proposals to the U.S. Securities and Exchange Commission this week, seeks to widen disclosure about bids in auctions and how variable-rate yields are set
]]></description>
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<item>
<title><![CDATA[UBS to buy back auction-rate debt, fined by Texas]]></title>
<link>http://www.secondmarket.com/articles/ubs-to-buy-back-auctionrate-debt-fined-by-texas.html</link>
<pubDate>Mon, 08 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Swiss bank UBS AG agreed to buy back $200 million of auction-rate securities and pay a $6.64 million fine to settle charges it misled clients about the debt's safety
    Thursday's accord with the Texas State Securities Board covers investors that were not part of an August 2008 nationwide settlement with several regulators in which UBS agreed to buy back $18.6 billion of auction-rate securities and pay a $150 million fine
    &nbsp;
]]></description>
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<item>
<title><![CDATA[Citigroup's Auction-Rate Bonds Freeze $1 Billion in Hawaii Cash]]></title>
<link>http://www.secondmarket.com/articles/citigroups-auctionrate-bonds-freeze-1-billion-in-hawaii-cash.html</link>
<pubDate>Fri, 05 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Two years after the auction-rate bond market froze, Hawaii has lost about $250 million in market value on $1 billion in student-loan securities sold by one Citigroup Inc. broker as a cash equivalent that the state has had difficulty unloading
    The transactions came while Citigroup was raising brokerage commissions and traders were being told to &ldquo;make sure all hands are on deck&rdquo; and &ldquo;do whatever is necessary&rdquo; to get rid of auction-rate bonds as the $330 billion...]]></description>
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<title><![CDATA[New York Dormitory Authority Will Sell $634 Million of Bonds]]></title>
<link>http://www.secondmarket.com/articles/new-york-dormitory-authority-will-sell-634-million-of-bonds.html</link>
<pubDate>Thu, 04 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    The New York Dormitory Authority, the second-biggest municipal bond issuer after California in 2009, is back in the market with its second offering in as many weeks, backed by the state&rsquo;s personal income tax revenue
    The $634.4 million deal comprises of $374 million of tax-exempt securities, $213.8 million of Build America Bonds and $46.7 million of nonsubsidized taxable debt
    An estimated half of the $634.4 million will be used to refinance a mixture of the state&rsquo;s...]]></description>
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<item>
<title><![CDATA[Seneca suit blames adviser for loss]]></title>
<link>http://www.secondmarket.com/articles/seneca-suit-blames-adviser-for-loss.html</link>
<pubDate>Tue, 02 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    The Seneca Gaming Corp. says it lost $5 million in investments because Merrill Lynch, its financial adviser, engaged in &ldquo;egregious fraud&rdquo; by inducing it to put money in what the gambling corporation said were exotic credit derivatives that are now virtually worthless
    The lawsuit says that Merrill Lynch influenced Seneca Gaming officials to invest in what Merrill &ldquo;represented as safe, highly liquid auction rate securities collateralized by residential...]]></description>
</item>
<item>
<title><![CDATA[Stifel reaches auction-rate securities settlement]]></title>
<link>http://www.secondmarket.com/articles/stifel-reaches-auctionrate-securities-settlement.html</link>
<pubDate>Mon, 01 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Stifel Nicolaus to speed up buyback of auction-rate securities in settlement with states
    Financial services firm Stifel Nicolaus &amp;amp; Co. will complete the buyback of auction-rate securities from individual investors six months early under a settlement reached last Monday with Missouri and other states
]]></description>
</item>
<item>
<title><![CDATA[Oppenheimer Settles Auction-Rate Securities Lawsuit]]></title>
<link>http://www.secondmarket.com/articles/oppenheimer-settles-auctionrate-securities-lawsuit.html</link>
<pubDate>Thu, 25 Feb 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Oppenheimer &amp; Company on Tuesday became the latest firm to settle a lawsuit by Attorney General Andrew M. Cuomo of New York over auction-rate securities, agreeing to buy back $31 million worth of the securities from investors
    Mr. Cuomo said in a press release that more than 1,246 accounts nationwide, 230 of them in New York, will benefit from the settlement
    Individuals, charities and small businesses whose Oppenheimer accounts are less than $1 million will be eligible for...]]></description>
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<item>
<title><![CDATA[Dreyfus Closed-End Municipal Bond Funds Announce Partial Redemptions of Auction Rate Preferred Securities]]></title>
<link>http://www.secondmarket.com/articles/dreyfus-closedend-municipal-bond-funds-announce-partial-redemptions-of-auction-rate-preferred-securities.html</link>
<pubDate>Fri, 19 Feb 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Each of Dreyfus Municipal Income, Inc., Dreyfus Strategic Municipal Bond Fund, Inc. and Dreyfus Strategic Municipals, Inc. has called for the partial redemption, at par value on a pro-rata basis by series in the amounts and on the dates indicated below, of the Funds' auction rate preferred securities (ARPS)
    The Board of each Fund formerly had authorized the redemption of up to 25% of its outstanding ARPS
]]></description>
</item>
<item>
<title><![CDATA[Former UBS Muni Chief Settles Probe for $2.75 Million]]></title>
<link>http://www.secondmarket.com/articles/former-ubs-muni-chief-settles-probe-for-275-million.html</link>
<pubDate>Fri, 19 Feb 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    David Shulman, UBS AG&rsquo;s former global head of municipal securities, complied to pay $2.75 million to settle a probe by New York Attorney General Andrew Cuomo involving the sale of auction-rate securities before the market collapsed in February 2008
    Shulman, who was UBS&rsquo;s highest-ranking executive with day- to-day responsibilities for its auction rate securities, sold his personal holdings of $1.45 million in student loan auction- rate securities based on inside information...]]></description>
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