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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: posthumousone who wrote (166253)11/22/2008 12:42:40 AM
From: James HuttonRead Replies (1) of 306849
 
If Etrade were to be taken over, I think its brokerage accounts would simply be transferred to an acquiring brokerage. Who knows what assets they have left in their bank. Until about a year ago, when their bank was one of the first to implode, I kept a lot of cash there and moved it into the brokerage account as needed. However, I moved it all out a year ago, but I still have securities on the brokerage side. If you are at all concerned about any cash in the bank, I'd move it out.

The guy who wanted to turn Etrade into a bank should be in prison, but I think he left with a big fat paycheck and a hearty "well done". On the other hand, he did such a god-awful job that they were one of the first banks to have problems, so Citadel probably overpaid for its stake in the bank.

Not that I'm a big fan of Etrade, as my account was appropriated with the rest of Harris Direct (via an attenuated chain all the way back to Lombard Discount Brokerage). But I've tried others and Etrade rates OK.
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