E-Trade Financial shares dropped 59 percent yesterday after a Citigroup analyst estimated there is a 15 percent chance that heavy losses from subprime mortgages could force the online brokerage into bankruptcy. “We take exception to the sensationalism based on unfounded speculation,” E-Trade responded. E-Trade shares are down 84 percent on the year. (Los Angeles Times, free registration required)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
‘How can I know these words originated in their heart and not some data center in northern Virginia?’instant opinion Opinion, comment and editorials of the day
-
Can Trump deliver a farmer bailout in time?Today's Big Question Planting decisions and food prices hang in the balance
-
Tips for seizing control of your digital well-beingThe Week Recommends A handy mix of technology and self-motivation
