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The Washington Attorney General’s Office and Auction Rate Securities: A Clarification

August 11th, 2008 · No Comments · Investing

I received a helpful email from Kristin Alexander at the Washington State Attorney General’s Office regarding my recent post about the NASAA task force investigating the Auction Rate meltdown. Kristin corrected me that the term “regulators” does not always equate to attorneys general.

She also wondered about my claim that the Attorney General’s Office was “being strangely quiet” on the matter. I realized that hindsight, since they are always “quiet” about pending investigations, silence WAS the appropriate action.

Admittedly I was being premature, as my initial reaction was that since New York and Massachusetts were being highly vocal “pit bulls” on the ARS front, I wanted my home state to also be in that small minority of early aggressors. Hey — since 48 other states were being “quiet,” no reason to be disappointed that WA had not announced anything at that stage.


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