Will it stop before it gets there? Not yet clear. Abundantly clear, however, that the complex $2+ billion bailout infusion from Citadel merely slowed the bleed. E*Trade has now passed through the $4 barrier and seems headed for the floor.
Still no word on whether anyone other than ex-CEO Mitch Caplan will lose his or her job over E*Trade’s mortgage-gambling disaster (which, so far, has cost e*Trade shareholders $9+ billion). No further word from management on how much money the company lost. No word on whether any more capital will be required or forthcoming. Just silence, as the company’s once-mighty market capitalisation slowly drains away.The Chronicles of E*Trade:
How to Destroy a Company in 5 Short Months: An E*Trade Financial Seminar
Cost of E*Trade’s Gambling Debts: $9+ Billion and Counting
E*Trade’s Citadel Deal Cuts Existing Shareholders in Half
E*Trade Saved By Hedge fund Citadel
E*Trade on the Block
E*Trade’s Desperate Ads Crush Stock Again
E*Trade CEO Denies Bankruptcy, Risks Jail Time
E*Trade to Customers: Please Don’t Take Money and Run!
How E*Trade Can Save Itself
Demolished E*Trade Plays the Wimpy “Irresponsible” Card
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