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Etrade. Safe or not?
- Thread starter barnetda
- Start date
What about TDAmeritrade? Anyone anticipate them having similar problems as ETrade? I always thought those 2 were pretty similar brokerages.
I spent 35mins on the phone with Etrade, it did´t seem as though they are bogged down with callers. They told me, for what is worth, that ETrade got out of their exposure to these morgage backed securities some time ago and thought the transparency in announcing the write off was the best thing to do. Seems it wasn´t the way the media is killing them. They did say, that they have no cashflow problems and no more exposure, but other brokers will also be faced with the same issues. Question is, what to do, who to trust.
Quote from Brucelee:
I spent 35mins on the phone with Etrade, it did´t seem as though they are bogged down with callers. They told me, for what is worth, that ETrade got out of their exposure to these morgage backed securities some time ago and thought the transparency in announcing the write off was the best thing to do. Seems it wasn´t the way the media is killing them. They did say, that they have no cashflow problems and no more exposure, but other brokers will also be faced with the same issues. Question is, what to do, who to trust.
thats what every finance minister said days before a default in the last 1000 years. or what bankers said during bank collapses in the great depression
Quote from Brucelee:
They told me, for what is worth, that ETrade got out of their exposure to these morgage backed securities some time ago and thought the transparency in announcing the write off was the best thing to do. Seems it wasn´t the way the media is killing them. They did say, that they have no cashflow problems and no more exposure, but other brokers will also be faced with the same issues. Question is, what to do, who to trust.
Same lies that Enron, Worldcom, Exodus Communications, Adelphia, Novastar Financial, etc, etc, etc, all said right up until the second they declared bankruptcy.
Not saying they're going under, just don't listen to the "everythings fine" b.s. they tell you.
Quote from Longhorns:
Same lies that Enron, Worldcom, Exodus Communications, Adelphia, Novastar Financial, etc, etc, etc, all said right up until the second they declared bankruptcy.
Not saying they're going under, just don't listen to the "everythings fine" b.s. they tell you.
True! I remembered the REFCO FX guy told me the same thing 1 week before the FX division went under.
Get the money out! You can always re-deposit after the dust settles
Quote from Nasdaq5048:
True! I remembered the REFCO FX guy told me the same thing 1 week before the FX division went under.
Get the money out! You can always re-deposit after the dust settles
ETRADE has SIPC on its brokerage accounts ... and FIDC on all bank accounts ...
SIPC = securities protected to 500k ..cash to 100k
FIDC = cash to 100k
almost every firm eventually goes down.... wall st is littered with the names of firms that have gone under....the list is almost endless.......
it can take 10 or 30 years to build a firm.....working 24 /7......
and 1 day to destroy one....to loose one
etfc lost more than half their market cap today ....its just amazing and very very sad ....just imagine what the hard working men and women are feeling at the company today.
tragic really .....i hope they make it g
it can take 10 or 30 years to build a firm.....working 24 /7......
and 1 day to destroy one....to loose one
etfc lost more than half their market cap today ....its just amazing and very very sad ....just imagine what the hard working men and women are feeling at the company today.
tragic really .....i hope they make it g
Quote from the gardner:
almost every firm eventually goes down.... wall st is littered with the names of firms that have gone under....the list is almost endless.......
it can take 10 or 30 years to build a firm.....working 24 /7......
and 1 day to destroy one....to loose one
etfc lost more than half their market cap today ....its just amazing and very very sad ....just imagine what the hard working men and women are feeling at the company today.
tragic really .....i hope they make it g
I don't feel bad for them at all.
They front run orders on successful traders all the time, they have the worst customer service ever, and their software platform is outdated.
F- Etrade.