E*Trade released its 2007 financial statements this week, and the portrait is more dismal than anyone seemed to expect: a 1.7 billion dollar loss for last year. The new CEO's remarks in a interview with forbes.com, that he would rather face the risk of the firm's home equity portfolio than sell it off (unless someone was going to offer "100 cents on the dollar to buy it") only exacerbated doubts about the continued viability of the firm.
And so, the company is going to continue to flounder, at least in the short run, and I fully expect my investment in it to slide slowly 9or perhaps quickly) into the red, possibly becoming just another tax write-off.
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