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

To: Spytrdr who wrote (9185)	11/4/1999 6:17:00 PM
From: Dalin	Respond to of 13953

Hello Spy!! What a nice surprise EGRP was today. I always knew it would do it, just didn't know when. Regards, D.

To: Spytrdr who wrote (9185)	11/4/1999 7:32:00 PM
From: LABMAN	Read Replies (2) \| Respond to of 13953

many congratulations spy, wait till you see tomorrow action this should explode upwards tomorrow considering there is a 26.8 million short position, and possible upgrades tomorrow lm

To: Spytrdr who wrote (9185)	11/4/1999 7:56:00 PM
From: LABMAN	Read Replies (2) \| Respond to of 13953

E TRADE will explode upwards on the following news Senate OKs banking bill Glass-Steagall's walls to come down By Rex Nutting, CBS MarketWatch Last Update: 4:20 PM ET Nov 4, 1999 Bond Report Personal Finance WASHINGTON (CBS.MW) -- The Senate approved a sweeping bill Thursday that would "modernize" the financial services landscape of America by allowing banks, insurance companies and securities firms to merge or compete with each other and giving consumers one-stop shopping. The Senate vote was 90 to 8. The measure is scheduled for a vote in the House later Thursday. President Clinton has promised to sign the bill. Financial stocks soared two weeks ago when a compromise between Sen. Phil Gramm, R-Texas, and the Clinton administration was announced, allowing the bill to move to passage. See related story. The bill, to be known as the Gramm-Leach Act after the two Republican lawmakers who shepherded it to passage, has been nearly 60 years in the making. It repeals several Depression-era laws on banking, including the 1933 Glass-Steagall Act that prevents banks from underwriting stocks. Last year's merger between Citicorp and Travelers into Citigroup (C: news, msgs) (under a temporary waiver) told Congress that the marketplace would not wait for the perfect time to repeal Glass-Steagall. The new law will likely to lead to another round of mergers and consolidation in the financial services industry. Insurance firms are looking for banking partners in order to compete for domestic and foreign business. "There's a real jockeying for partners," insurance industry lobbyist Phil Anderson told Congressional Quarterly. "Who wants to be left without partners when the music stops?" Industry groups fought hard for passage of the bill, arguing it would benefit consumers by letting them shop for all their financial needs at one place. Some consumer groups and advocates for poorer neighborhoods urged Clinton to veto the bill over concerns that consumers' privacy would be invaded and on fears that lending to urban and rural communities might falter. See related story. "This legislation will modernize our financial services laws to better enable American companies to compete in the new economy," Treasury Secretary Lawrence Summers said in a letter Wednesday to House and Senate leaders of both parties. "The bill will stimulate competition, thereby increasing choice and reducing costs for consumers, communities and businesses," he wrote. Americans spend more than $350 billion a year on fees and commissions for banking, brokerage and insurance services, Summers said. He suggested that if enhanced industry competition brought consumers savings of even 5 percent, they would save more than $18 billion annually. Several securities company stocks were trading higher Thursday ahead of the vote. Ameritrade (AMTD: news, msgs), e-group (EGRP: news, msgs), DLJdirect (DIR: news, msgs) and Charles Schwab (SCH: news, msgs) were all higher. The insurance index ($IUX: news, msgs) increased 1.2 percent, while the banking index ($IXF: news, msgs) rose 1.9 percent. Rex Nutting is Washington bureau chief for CBS MarketWatch. The Associated Press contributed to this report. Printer friendly format Refer this article to a friend For more breaking news, visit our Front Page. Also, search our news archives: Ticker Keyword (For more options use our Advanced Search) CBSMW MarketPlace Personal Finance : • Get 3.9% APR and 5% Cash Back. Get the Wingspan Platinum Visa • Let the Loan arRanger find you the best rates. Visit our Loan Center. • Finding your dream car has never been easier. Visit our Car Club. New! • Free insurance quotes. Visit our Insurance Center. New! • Get a free copy of your Credit Report online. New! Investing: • The Direct Investor Center, the premier place for direct stock investing. • Access over 250,000 investment research reports. Free membership! • Free subscriptions to top performing financial advisory publications! • CBS MarketWatch LIVE:real-time equity quotes and news over the Internet. How to Spend it! • Put your market gains to work at the Online Golf Superstore. New! • Explore The Good Life with Cigar Aficionado and Wine Spectator. News Front Page • News Index • Headlines • NewsGuide • Search • Newsroom Staff Data & Tools Market Data • Market Monitor • Charting • Portfolios • Discussion • Trading Center Topics Mutual Funds • Personal Finance Company Company Information • Advertising • Media Kit • Feedback • Jobs • Site Map Services MarketWatch RT • MarketWatch Live © 1997-1999 MarketWatch.com, Inc. All rights reserved. Disclaimer. CBS and the CBS "eye device" are registered trademarks of CBS Inc. Back to Yahoo!