Auction-Rate Securities Are Still Frozen

Auction-rate securities were marketed before 2008 as very conservative investments that could provide better yields than money market funds. They proved to be much more risky. During the financial crisis, the auction-rate securities market froze preventing investors from getting their money out. As this WSJ article describes, many investors still can't get their money. The best option for many may be to sell on the secondary market and take a loss between 10% and 30%.