Terry Finn

The Online Brokerage Wars: E*Trade Offers Compelling Risk/Reward

I currently have accounts at all three brokerages, but I am only trading with two of them, Schwab and Ameritrade. Why did E*trade have such sizable loses from the sub-prime mess when the other two brokerages didn't? I attribute it to poor management at the top and simple greed. When the word got out about E*Trade's financial troubles, I baled on my positive stock positions with them and cashed out. This caused me to have to owe higher short term capital gains taxes instead of lower long term capitol gains taxes. I now owe $100,000. plus in additional taxes due to E*trade foolishness and greed. Maybe E*trade will reimburse me for my tax loss, but I'm not holding my breath. I also understand that when you swim with "SHARKS" you can get bit. OUCH!