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Title: E Trade Fiasco
Category: Other
Blog Entry: E*Trade Financial said its $3 billion asset-backed securities portfolio had deteriorated since Sept. 30, resulting in larger-than-expected write-downs. There is talk that it could go bankrupt. Personally, I would be taking my money out. Like the other shameless CEO's of Citi and Merrill, you can't trust a word they say. When the ship's on fire, the rats are bailing out.