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Auction Rate Securities Need Individual Scrutiny: NERA

Law360 (May 6, 2008, 12:00 AM EDT) -- As regulator and shareholder scrutiny continues to rain down on several major Wall Street firms over the collapse of auction rate securities, a paper by business adviser NERA Economic Consulting warns that each case should be viewed narrowly.

NERA released a working paper on Tuesday which reviewed the evolution of auction rate securities from their creation in the mid-1980s to the current bust in the market as a result of the subprime mortgage crisis.

Recent failures in the auction rate securities market have been blamed on...
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