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E*Trade: “E”xemplary or “E”gregious??

Posted by Larry Doyle on July 16, 2010 8:42 PM |

QUESTION: What does the “E” in E*Trade Securities LLC really stand for?

ANSWER: Choice 1 or 2

1: Exemplary…….. If they announce how they will redeem their client’s funds still frozen after 30 months in Auction Rate Securities.

2: Egregious……… if they fail to rescind or redeem all of the Auction Rate Security purchases that some of their brokers fraudulently solicited in 2007, by failing to disclose the risks and potential lack of liquidity, and marketing them to be as safe as cash equivalents or money market funds.

As of now, E*Trade is in a race to the bottom amongst all of its peers in failing to even address the problem or work towards a solution. Does E*Trade have no integrity whatsoever? Come on E*Trade, do the right thing!!



On behalf of auction-rate securities investors everywhere, I am happy to run this ad here at Sense on Cents. This specific ad was submitted by a group of E*Trade clients. – LD

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