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)
Subscribe to 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.
Continue reading for free
We hope you're enjoying The Week's refreshingly open-minded journalism.
Subscribed to The Week? Register your account with the same email as your subscription.
-
Should you fire your financial adviser? 4 signs it's time to say goodbye.The Explainer Breakups are never fun, but you have to protect your wallet
-
The daily gossip: Man arrested in connection with shooting of Tupac Shakur, an OceanGate movie is in the works, and more
Feature The daily gossip: September 29, 2023
-
What to expect from an El Niño winter
The Explainer Things might be different thanks to this well-known weather phenomenon
