An email posted to a chat room and attributed to an E*Trade executive named Adam Townsend suggests that, as of Monday at noon, E*Trade is now hedging ex-CEO Mitch Caplan’s assertion that E*Trade would never declare bankruptcy. (See: “ETrade CEO Denies Bankruptcy, Risks Jail Time”)
If “Adam Townsend” actually exists, represents E*Trade, and wrote the email (we are trying to verify–see below), he is obviously in a delicate situation and must take great care in his communications–or else expose himself and the firm to extreme legal liability. That said, if the email below is authentic–and if E*Trade still regards bankruptcy as inconceivable–one would have hoped that his position could have been more firm.
(N.B.: This email could be a complete fabrication. We would frankly be shocked to learn that, in its current tenuous state, E*Trade is still issuing individual responses to questions, and we will therefore reserve judgment on the email’s authenticity until we hear back from E*Trade*. Or until we don’t.)
Subject: RE: E*Trade
Date: Mon, 7 Jan 2008 12:03:57 -0500
From: “Townsend, Adam” <[email protected]> Add to Address Book
Add Mobile Alert
Your questions touch on very complicated matters, so it’s difficult to
respond via email, but I’ll give you what I can. Clearly I think the
board and everyone here is behind what Mr. Caplan said with respect to
the bankruptcy possibilities, and they are all doing everything they
can to make sure that remains the case, but I can never promise
UPDATE: Even as our readers ridicule us for calling attention to such an obvious scam, we are continuing to attempt to confirm the veracity of the email. A person going by the name of “Adam Townsend” and possessing an @etrade.com email address was kind enough to respond to our query. The telephone number this person provided has the same area code and prefix as the main E*Trade IR number. The voicemail message on the number was a pleasant, official voice identifying the extension as that of “Adam Townsend, E*Trade Financial IR”. We have left a message and are calling a second number. More soon…
Also This Morning: E*Trade Trying Desperately To Save Self…And Still Spinning
Business Insider Emails & Alerts
Site highlights each day to your inbox.