Why I'm Not Talking About A Certain Brokerage

Article Submitted by: Sam Cass
Corporate News


Tags: No run.

The business headlines yesterday and today are full of stories about a certain brokerage that is having financial trouble. Of course, articles and announcements like what I have read only serve to hurt the public. Can you say "run on the bank?"

When someone is down I'd prefer to offer a hand than kick them in the stomach.

 

Submitted: Nov 13, 2007    Views: 529    Comments: 4    Likes: 10   


The business headlines yesterday and today are full of stories about a certain brokerage that is having financial trouble.  Of course, articles and announcements like what I have read only serve to hurt the public.  Can you say "run on the bank?"

I refuse to participate.  Many a company has been destroyed needlessly by an inflammatory statement from an analyst or from a particularly harsh media article.

I'm not saying the press should be muzzled, just that I don't want to be involved and have any blood on my hands. 
When someone is down I'd prefer to offer a hand than kick them in the stomach. 

That's why the rest of this article is blank.





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Comments Received:

Janet Huber
(Unregistered)

It's refreshing to see someone has a conscience and not everyone condones vulturism.

Posted: Nov 13, 2007

JBMebre

I agree. I hope that they make it. Their service has always been head and shoulders above their competitors in the discount brokerage space.

Posted: Nov 13, 2007

Steve
(Unregistered)

I am a veteran and needed to spend my Veterans Day trying to figure out how to protect everything that I have in the market with absolutely no help from the folks at ETrade who seemed to just throw up one roadblock after another after another to moving my money and securities out. The company may not deserve what is happening to it, but they caused this crap upon themselves, and then to transfer it to me without helping me on Veterans Day is an outrage.

Posted: Nov 13, 2007

Author/Submitter Response:

That's unfortunate. They shouldn't prevent their customers from removing money. It's a tough situation all around.

I'm sorry you didn't get a chance to fully celebrate Veterans Day.

anon
(Unregistered)

its worth mentioning that veterens day is a holiday for all banks.

i dont think etrade will go bankrupt. even with any amount of balance sheet issues there is no way 3.5mm active online investment and 1mm online banking accounts will be allowed go pop.

worst case a BofA or AMEX or similar would step in to take them up. Would be a dream for those guys who have tried for years to break into this business. I dont know how bad the balance sheet is so i dont know the price they would pay but its not believable that that sort of online asset would be allowed to disappear.

Posted: Nov 16, 2007

Author/Submitter Response:

I agree. I have an account and have never had a problem.



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