Etrade. Safe or not?

[TravelTrader]

Quote from interdigital:

What about TDAmeritrade? Anyone anticipate them having similar problems as ETrade? I always thought those 2 were pretty similar brokerages.

Etrade got heavy into mortgages, TDAmeritrade didn't.

 

[the gardner]

longhorns ....i agree with you on all 3 counts

but every firm has issues ....buisness issues......regulatory issues....customer service issues........competitive issues etc etc

wall street is the buisness we have chosen for ourselves and wall street is a people buisness....etrades major assets are its people ...some are sharks who will front run you some are not.

if etrade goes down many good people will be hurt ...and their familys will suffer....and it will be very difficult for many to get started again....

i wish them well...............................g

 

[stock777]

is shorthairs still alive? been on ignore so long, I forgot about 'it'.

wouldnt listen to anything that jagazz said though

 

[Longhorns]

Quote from stock777:

is shorthairs still alive? been on ignore so long, I forgot about 'it'.

wouldnt listen to anything that jagazz said though

Hey everyone, stock777 is back!!!!

Get ready for another easy money "stock pick" from the single greatest fade this website has ever seen.

 

[GeoVH]

Looks like Etrade could end up toast.

ETrade is getting killed in the market today while TDAmeritrade is up 5%. It's always amazed me how millions of idiots (ie. the market) seems to know more that the smartest of us all. The market knows all. Maybe the market thinks TDAmeritrade will end up with Etrades customers?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aqif1FOQmJ7c&refer=home

 

[a529612]

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.

You deserve to lose everything if you listened to those phone monkeys.

 

[a529612]

On a different note, what would happen if you OWE them money, e.g. a house call, and they went under?

 

[capmac]

If one has an account, I wouldn't worry about paying back margin calls.

 

[Hansel H]

Quote from interdigital:

What about TDAmeritrade? Anyone anticipate them having similar problems as ETrade? I always thought those 2 were pretty similar brokerages.

Toronto Dominion Bank owns 35% of TDAmeritrade. TD Bank has 0% exposure to subprime situation.

TDAmeritrade can go bankrupt but it's unlikely, given that TD Bank, one of the "big 6" Canadian banks, and one of the most solid banks in the world, would allow TDAmeritrade management to behave irresponsibly.

There is no similarity between TDAmeritrade and E-Trade ( a company without backing ) insofar as their backing and balance sheets are concerned..

AMTD is up today because E-Trade's clients are switching to TDAmeritrade.

 

[Hansel H]

Quote from a529612:

On a different note, what would happen if you OWE them money, e.g. a house call, and they went under?

They'd sell your debt and maybe some day somebody will come after you for it.