Lehman/Fido Online Bond Offering No Nirvana for Retail Investors
A much-heralded online bond offering held today that was supposed to level the playing field for individual investors didn't appear to make much of a dent in the landscape after all.
Today Lehman Brothers (LEH Quote) led a new $1 billion bond offering -- online -- from Ford Motor Credit, a unit of auto giant Ford Motor Company (F Quote), that was priced this afternoon. Fidelity Capital Markets, co-manager, was offering its institutional and 3.2 million retail online brokerage clients the new three-year Ford bonds and the same information and price comparisons Lehman gives its institutional clients, according to a news report Tuesday.
But it doesn't look like Fidelity showed its customers all the information that Lehman provided. ...
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