posted on Jan, 9 2008 @ 02:51 PM
Well so far many financial Institutions big CEOs are losing their jobs, did I said losing their jobs?
no they just recycle them like they do
the trash, they will always become CEOs of yet another big elite corporate group, they are good at backing each other.
Many people are losing their investments with this financial groups because they have heavily depended on the mortgage backed investment and many
never had to disclosure this to their stock holders.
E*Trade steps up turnaround effort
Online brokerage sells $3 billion in mortgage-backed investments, exits institutional trading business after shares hit all-time low.
Troubled discount brokerage E-Trade Financial Corp. said Wednesday it sold about $3 billion of mortgage-backed securities and municipal bonds in
addition to the November sale of its $3 billion asset-backed securities portfolio.
Sorry to bring this news to all out there that favor E-Trade, but they have waited this long and I am afraid that the damage is already done.
Keeping their financial deals hidden and away from their costumers has made things worst for many financial companies after the frist wave of housing
[edit on 9-1-2008 by marg6043]