- Bond Prices Get Boost From Jobs Plunge
- Economy Sheds 533,000 Jobs, Most in 34 Years
- Citigroup Sells German Arm for $6.7 Billion
- Charts Predict S&P Festive Rally Above 1,000
- BMW's Global Sales Plunge by a Quarter in Nov.
- What the Pros Say: S&P May Fall to 700
- Bleak Jobs Data Forecasts Add to Automakers' Woes
- Euro Shares Sink after Grim US Jobs Data
- European Stocks to Open Sharply Lower
- PGA Spokesman: Sponsors Believe In Us For Long Term
- Kilduff: Expect Rebound In Oil Prices Early 2009
- How to Move Forward After a Layoff, Part 2
- Jobs Numbers: Breakdown by Sector
- Congress And Automakers: Long And Difficult "Marriage" Ahead
- Great Companies Come at Fair Prices
- Yoshikami: Investing & the Obama Presidency
- Wall of Shame: Fortress Investment's Wes Edens
- Cramer to Geithner: Let FDIC Chair Keep Her Job
Text Size 
Suggestions that E*Trade Financial Corp. faces bankruptcy are "absolutely irresponsible," the company's CEO said in an interview on CNBC Wednesday.
"Specifically referencing bankruptcy when we are well capitalized and we have excess capital, when we are sound, when our retail franchise has never been stronger, and mention a run on the bank in my mind is absolutely irresponsible; irresponsible to shareholders, irresponsible to our customers, and irresponsible to our employees," said Mitchell Caplan.
On Monday Citigroup analyst Prashant Bhatia on Monday downgraded E*Trade's shares to "sell" from "hold." In laying out a worst-case scenario for E-Trade, Bhatia suggested writedowns and a Securities and Exchange Commission inquiry could lead to a significant number of clients closing accounts. Bhatia pegged E-Trade's chances of filing for bankruptcy at 15 percent.
Other equity analysts downgraded their ratings or reduced their price targets but did not raise the specter of bankruptcy.
The stock [ETFC
Loading...
()
]nearly lost 60 percent of its value Monday. It rebounded 15 percent Tuesday and another 11 percent on Wednesday.
Print
Email
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes