E*Trade Gets Help From Citadel

Discussion in 'Wall St. News' started by ASusilovic, Nov 29, 2007.

  1. E*Trade Financial Corp., which is ensnared in the mortgage crisis, is getting a $2.55 billion cash infusion from Citadel Investment Group, people familiar with the transaction say, in a bid to restore confidence and liquidity in the discount brokerage.

    In a plan overseen by the federal Office of Thrift Supervision, Citadel will make a two-part investment in E*Trade, which is based in New York. The first component is the purchase of E*Trade's entire $3 billion portfolio of asset-backed securities for a value of around $800 million. The second component is the purchase of $1.75 billion worth of 10-year notes, paying

  2. Suss----You're going to have to subscribe to the Online-WSJ and print out the entire story next time. :p
  3. mobilni


    Do you think is time for long now?
    Thank you for news.:confused: :confused: :confused:
  4. I found this on Citadel's website, looks this is part of their new logo now :eek:

  5. Nazz,

    I do not support Rupert Murdoch on his way to global news czarism....
  6. LOL. I wonder if that trade cost seven dollars - the one buying a 3 bill portfolio for 800 million.
  7. LOL. And they probably only did it with one finger too.