While I understand the basics of the ARS issues, I don't know enough to know what I don't know, if you know what I mean, lol. With that in mind, I'm wondering with the current disproportionate pressure on the PPS, if the current failures with Lehman, AIG, Freddi & Fannie, WaMu, etc., if the ARS asset themselves and potential collateralization workaround of the illiquidity of them might have been negatively impacted by the latest market issues.
Anyone familiar enough with these securities, to speak intelligently to their current status and whether they have been impacted more than just being illiquid for now, based on the current market dynamics?