Fergie's Tech Blog

U.S. Mortgage Crisis Slams E*Trade

An AP newswire article by Sinclair Lewis, via The Globe and Mail, reports that:

E*Trade Financial Corp.'s decision to become a more aggressive player in U.S. home loans whipsawed the discount brokerage in dramatic fashion Monday, pummelling its market value by almost 60 per cent and prompting one analyst to speculate the company could be heading for bankruptcy.

The grim financial prognosis has only reinforced suggestions that E*Trade is vulnerable to a takeover, and TD Ameritrade Holding Corp., the online broker in which Toronto-Dominion Bank owns a 40-per-cent stake, is viewed as one of the most motivated buyers.

posted by Fergie @ 11/12/2007 08:44:00 PM