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Non-Tech : E*Trade (NYSE:ET)

ET 16.25

-0.9%

Dec 26 9:30 AM EST

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To: Diamond Jim who wrote (7645)	7/18/1999 12:02:00 AM
From: WhySoSoon	Read Replies (1) of 13953

If Telebank can truly give a 6.75 yield and still turn a profit, I think they will bring in the bucks as well. Why not? It is rather straight forward to play the spread when the company owns both a bank and a broker. Loan the money (deposit from Telebank) to clients on margin (ETrade). Also, underwriting is also big business. Money can flow to EOffering. Whether it is a bought deal or on best effort, E*Offering will have the added muscle to make deal. The gravy train on underwriting fees is very lucrative and investment banking is big business.

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