were chewed up and spit out. I refused to argue because I knew the information I received was 100% credible. I didn't need to search stories on the internet, I spoke with 4 individuals directly involved with the ARS vehicle. I stood by my story then and I stand by it now. The story posted by Sedley was dated June 3rd. No where in there does it state that the ARS will be redeemed at par value. The story said Deutsche will restore $1.3 billion in liquidity to their customers. It does not state if a mark to market will be the determinate for redemption. People are confused on how the ARS auctions are functioning. The municipal bond market is moving, the student loan bonds are shakey at best. I believe Patriot already wrote down a small amount on the investment. The interest rate payments won't mean much if Deutsche offers $.72 on the dollar. The primary issue facing ARS holders is the inability to even auction the securities at all. Forget how much they are worth, they can't even find a buyer nor will the issuer redeem them. The courts settlement with Deutsche may simply be forcing them to offer to repurchase the securities at an agreed upon value between them and the holder. Like most things this company does, I have never been satifiied with their response on the ARS issue. I emailed questions to Mr. Flowers long ago asking him specifics regarding the investment. While he did answer, it was vague at best and left most of my questions unanswered. The reason being, IMO, they really didn't understand the investment they were in.