E*Trade SEC inquiry

[CandiceJul]

E*Trade disclosed that the Securities and Exchange Commission is conducting an informal inquiry of the company's loan and securities portfolios. The company is cooperating with the SEC inquiry, which began Oct. 17, according to disclosure in the company's third-quarter report.


shares recently traded down 13% in after-market action.

[Byriibk]

two co-workers discussed doing just that this afternoon.

E Trade had a letter upon sign on to all users that they could lose a billion dollars or something like that and still be financially sound ?????????

anyone confirm ??

[Charlesunal]

Yes that's the case. They had a press release to that affect this morning too. But seemingly Citi thinks they could actually lose $3-5 billion therefore be bankrupt - hence the 60% drop.

But why the SEC inquiry??

If everyone starts pulling their money out (a run on the bank) then they likely would be bankrupt. I think that that would be a huge overreaction at this point - but I actually do expect it to happen.

[CharlesSnurl]

Picked up shares yesterday afternoon under 4 and more this a.m. Wasn't planninng on holding overnight but decided to play it out, but that may change - 5.35 AH. Been with e-trade since around 93' so think I made back all my brokerage fees :wink: My eyes are fried.. volume - 236,482,053. Nike - long as you have less than 100k in ebank your insured.

[admin]

yea I have way less than 100k in my E*trade account. I have $1200 in right now but i'm putting more in. Siri and XM are (hopefully) merging and i'm going to make some mad money.