Help! E*Trade's Got My Money! (ETFC)
I'd like you to meet the SIPC
From the Wall Street Journal's Deal Journal:
The markets depend on collective disbelief. Like the notion that the dollars in your pocket are actually “worth” something. Or the idea that the bank is holding on to your deposits inside a nice little vault, when in reality it lent out the sum long ago.
It is rare to see that collective-disbelief wire short-circuited. But we are getting a real-time test in the case of E*Trade Financial, whose shares were down 59% today after a Citigroup analyst used the “bankruptcy” word to describe the fate of the electronic brokerage-turned-mortgage-lender....MORE
Go for the post, stay for the comments.
And from Forbes:
E*Trade Going Out Of Business?