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http://www.reuters.com/article/reute...BrandChannel=0
And roughly 3/4 of E-Trade portfolio was supposedly prime.
If this holds in any way true, the brown stuff is just about to hit the impelling device.
Citigroup investment bank analyst Prashant Bhatia said E*Trade actually received 11 cents on the dollar for its portfolio, if you factor in that the brokerage received $800 million in cash minus 85 million shares it issued. He said that implies Citadel's received stock compensation worth about $450 million, leaving E*Trade with only $350 million for its $3.1 billion portfolio.
If this holds in any way true, the brown stuff is just about to hit the impelling device.