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Morgan Stanley said that before Sept. 30 up until Nov. 30th they will start to cover retail clients, individuals, charities and small to med size businesses with financial records of $10 million or less — who bought auction rate securities through the firm before Feb. 13.
MS says that they will make good on any losses suffered by whichever retail clients that bought auction-rates securities through the firm before Feb 12th and then sold the securities at a loss between that date and Aug. 11th
Morgan Stanley said they will also try to provide liquidity solutions for institutional investors that got into similar dilemmas through the firm. The firm said it hopes to straighten out the mess by the end of 2009.
Kirt Eure
