Livingston, Lynda S.; Kast, Amy R.; Benson, Kyle M. - In: Business Education and Accreditation 2 (2010) 1, pp. 77-92
Dutch Auction Rate Preferred Stock (DARPS) was created in the 1980s as a way for fully taxable corporate investors and … individual investors lost all of their liquidity, learning the hard way that preferred stock is not a cash equivalent. In this …