"Corporations Are Disadvantaged by Auction-Rate Securities Settlements" said Treasury Strategies' Tony Carfang recently. He told Fox News, "The recent settlements between regulators and securities dealers to buy back auction-rate securities (ARS) are actually hurting corporates and institutions.... The $330 billion ARS market failed in early 2008. The markets were actually well on the way toward healing themselves.... Now, the market's self-guided healing process came to an abrupt halt and regulators have left us with settlements of only $50 billion spread out over as long as three years."