Just use your heads. If things were fine they'd say, "things are fine" . If they aren't fine they'll say, "things are fine." They're being told "things are fine " by people being told "things are fine". But, if things "aren't fine", will that work it's way down the chain, and wil they call you? they don't give a fuck about you, and they never have, so protect yourself. If you're wrong, and you miss the great platform and service, move back. I hope they fold so I don't have to listen to those fucking commericials anymore. but that's just me. Somebody will buy them, but I wouldn't take the chance. But I don't cliffdive, either. PS. I was at EF Hutton in 1985 and I went home one afternoon, and who was on TV, but our new President Scott Somebody or other who was Barbara Bush's Brother. Not only did no one know he was going to do the interview, but do you know what he said??????? "Things are fine".
What happened to the posts of everyone who thought E*Trade was going to be taken under by an analyst who can't read a balance sheet or an income statement? I bet there's gonna be a lawsuit very soon from E*Trade against this amateur of a stock analyst at Citi. Wait, didn't Citi report a HUGE rightdown themselves? Why aren't Citi and Merrill going bankrupt as well?
Even if your money was backed, if Etrade did go belly up, you will not have readily accessible funds/stocks. Why would you take a chance unless you're too lazy or you like their platform or something that much? I remember a firm going under many years ago. My buddy had his money tied up for 6 months! He ended up getting most of it but the hassles COST him money. Good thing he didn't need the money to live on.
If you're not on margin your money is segregated so there's no worry about that. If the firm is liquidated and only covers, say 90% of the liabilities, SIPC only has to cover the 10% that wasn't covered by the liquidation and that is the only amount of money that may take 1 to 3 months to access. The whole point of the FDIC and SIPC was to prevent this exact situtation of a run on the bank, but I guess a lot of you lil'ns need some education on exactly how these programs work. Actually, I don't think it's just the lil'ns, I think it's a large majority of the US population.
==================== Quote from Longhorns: I don't feel bad for them at all. They front run orders on successful traders all the time, they have the worst customer service ever, and their software platform is outdated. F- Etrade. ======================= lol, then what are you complaining about, since by your own admission they only harass SUCCESSFUL TRADERS. I have despised Etard for years but still use them for spite.
no, your money is completely safe. Nothing to see here. Move along. The fact that you posted kinda answers your question, don't you think? (refco) ahem.