Singing the E*Trade (ETFC) Blues: Stock Approaching $3

Woe is E*Trade.

The cries of “irresponsible analyst!” weren’t enough. The assurances of financial solidity weren’t enough. The ads promising that most deposits are insured weren’t enough. The dumping of CEO Mitch Caplan wasn’t enough. A $2+ billion bailout by Citadel wasn’t enough. And now the stock is trickling toward $3.

Here’s what would be enough:

  1. An exact figure for the company’s total mortgage gambling losses.
  2. A pro forma (post-Citadel) view of the balance sheet and capital ratios.
  3. A clear explanation of the company’s new risk-management policies and procedures.
  4. A clear, detailed accounting of what the company owns in its mortgage portfolio.

Short of that, investors can be forgiven for assuming the worst.

The Chronicles of E*Trade
E*Trade’s Long, Quiet March Toward Zero
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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