E-Trade (ETFC -4.2%) couldn't swing a deal because it would have required a buyer to take on the...

|By:, SA News Editor

E-Trade (ETFC -4.2%) couldn't swing a deal because it would have required a buyer to take on the company’s legacy loan portfolio, which should be valued ~$1.3B less than than the figure on its books, Raymond James says. The key question now is whether Ken Griffin’s hedge fund will sell its remaining 9.6% stake or re-engage ETFC in an activist role.