Chat with our sales team
Advertising
Whole Network Most Recent TOP10 Credit Housing Investing Retirement

 

Keeping My Money with E-Trade (For Now)

Filed in archive Investing by Justin McHenry on November 12, 2007

etrade.gif
Woke up today to find a note from E-Trade telling me that they can weather the financial storm even though they warned of disastrous sub-prime writedowns and Citi said the company could potentially go bankrupt (although Citi's barely one to talk given their recent buffoonery). E-Trade's stock went straight down the S-hole, losing almost 60% of it's value. That's crazy.

Part of Citi's statement on a possible bankruptcy has to do with the possibility of individual investors pulling their money from E-Trade in fear that they could lose that money-the old "run on the bank" scenario, with no money left for whoever doesn't get to the bank on time.

For now I'm not running to get my money out. It is supposedly well insured, even if E-Trade were to go belly up, so I'd get my money back.

On the other hand, I was reading somewhere today that even though it's insured and I'd get it all back, it could be a few months, which I don't like the sound of. I put that money in to invest, not to have it sit captive as a bankruptcy proceeding slogs on endlessly.

For now I'm believing that E-Trade will be OK. I won't be buying any of their stock, but I'm not going to pull my money and put it into another brokerage. Mostly because I'm cheap and they give me the best prices on trades. But if real signs of trouble continue, I could see myself grabbing my money before it goes to investment jail for an extended stay. (Although with the recent market, maybe I'd be better off if my money was out of it altogether.)


Advertisement


Permalink: Keeping My Money with E-Trade (For Now)
Tags: investing  money  trade  2007  finance  keeping+money  openads+delivery  personal+finance 

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/101713



Advertisement


Advertisement


CW ToolbarInstall
RSSrss   | See all blog subscribe options
Googlegoogle   |   What is RSS?
Yahoo!yahoo
AddthisAddThis Feed Button
BloglinesBloglines
Newsletter
Advertisement - Book yours here.

Use our search feature to look for other interesting posts

Just this blog Whole network
Apple iTunes
Advertisement -
Book yours here..


 
  • Would you like to see your text link here? Let us know!
Advertisement
Book yours here.



  • Other blogs in the same channel in the Creative Weblogging Network

Advertisement -
Book yours here..






Advertisement - Book yours here..
 
Tagcloud: About This Site Banking Blogging Issues Book Reviews Buying Stuff Careers and Money Charity Credit Economy Education Finance Financial Advisors Funny General Greatest Hits Happiness Health Housing Identity Theft Inspiration Investing Kids Marriage and Finance Money & Politics Other Voices Real Estate Retirement Saving Sponsored Post Taxes The Joneses Tools Travel Warren Buffett Zen