pcyhuang

Countering the AP's 'E*Trade Financial Earnings Preview'

"E*Trade said it liquidated about 65 percent of $330 million in preferred equity held in the mortgage lenders Fannie Mae and Freddie Mac, a move that will result in an $83 million pretax loss in the third quarter."

I think that the market over the next several months will prove that Leyton has made a big mistake in liquidating this sound investment, and taken the $83 million pretax loss.

Cheers,