SEC Looks to Put Buck Back Together in Money Market Case

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I am retired. I was sold the Reserve High Yield fund bya TD Ameritrade salesman, I wanted to put througan order for the Vanguard money market fund but was told this as just as safe, When the fund stopped redemptions, I could not take out even "one penny" for 3months. I had to sell stock just to live on. These SOB's will face some of their own difficult times as they caused a lot of us. Every time I see Sam Waterston talk about honest, fair dealing, I WANT TO PUKE.

SAM WATERSTON of NY 5:13PM December 22, 2009

We got F'd

Lucas Murelli of NY 10:01PM October 30, 2009

The people who pulled their money out, caused a panic. No punishment is too great. How did $10 billion dollars get pulled out in one day?

arroword of FL 10:13PM September 28, 2009

Every dime that was distributed based on redemptions made on September 15, 2008 (and after) should be returned to the fund for equitable distribution to ALL holders on that date. It is well known that Ameriprise sued The Reserve and the Bent gang for tipping off large, institutional shareholders and I would wager there are a bunch of them residing in MA.
Then, what of the income the fund has earned in the past year? Are they saying that we will only lose about 1c of our principal or are they arriving at this number after they add in the income the fund earned in the past year? I am sure the IRS is asking this question also...

Clawback Kid of PA 9:30PM September 28, 2009

It would be nice to see investors demanding that fund managers provide an appropriate level of transparency. With government protections removed and no permanent solution in sight, investors will be responsible for demanding better assurances fro fund managers. It only seems logical that providing these assurances would be a win-win for investors and managers alike.

Patrick of ID 3:26PM September 28, 2009