Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Spytrdr who wrote (7279)	6/21/1999 4:52:00 PM
From: astyanax	Read Replies (1) \| Respond to of 13953

Re: Bankers don't get the Net. Actually, I saw a more complete version of that article on a newswire. Not sure where, maybe www.newslinx.com or www.news.com. Anyway, it quoted Christos Cotsakos and he had another great line. It was on why they went with Telebanc - (paraphrasing) "We tried to work with traditional banks but they strongly resisted with delays, politics, and vested interests.". He's quite right, I'm puzzled at why bankers have been so blatantly resitant to the Net. I'm still a bit upset that EGRP didn't make a more aggressive move for NTBK a few months ago (I posted on the NTBK boards a while ago about this) before NTBK's chart and market cap went parabolic. Telebanc is still a good start but nowhere near NTBK. But do really want to know what the most Luddite financial sector is? Certainly not brokers (despite Merrill Lynch). Not even bankers (even though they are pathetic). It is INSURERS! These losers are amazing. Three-toed sloths hanging upside down from their branches, enjoying a slumber, letting the Net revolution pass them by. There was a big newsarticle about the industry's reluctance to embrace the web. I'm hoping INSWeb (part of the Softbank kereitsu) can partner up with Softbank sister EGRP AND TAKE OVER THE WORLD. Only then will I forgive ETrade for loading my online broker account so slowly! THE SOFTBANK ODD-LOT DESPERATION PAGE: netconductor.com