ETFC (E-Trade) wants 800 mils from the Feds.

[SSSnail]

Think they'll get it?

Linky

SAN FRANCISCO (MarketWatch) -- E-Trade Financial Corp. (ETFC) said it applied with the Treasury to secure $800 million under its TARP Capital Purchase Program. The application is currently being reviewed by the Office of Thrift Supervision, E-Trade's primary regulator. "We remain optimistic that we will receive approval and expect to make an announcement this month," said Donald Layton, chairman and chief executive of E-Trade. The online brokerage is having to absorb heavy losses on its investment in mortgage-backed securities with the U.S. housing market slumping

 

[Aharami]

sheesh, companies are coming out of the woodworks asking for handouts!

 

[hiromizu]

No. Their not very popular so goverment have no interest in helping them because their is no interest.

 

[dquan97]

I'm next in line w/ a $2MM request!

 

[sonambulo]

How about fucking NO.

 

[Capt Caveman]

Yes, b/c that's the purpose of the TARP Capital Purchase Program.

Originally posted by: sonambulo
How about fucking NO.

Actually, that advertising has more than paid for itself in new customer acquisitions. It's their mortgage arm that has been the problem.

 

[Queasy]

Where do I put in a request for my personal bailout?

Dear Mr. Government,

Times are rough. My life would be so much better if you bailed me out to the tune of $200,000. I am much cheaper than any bank or automaker and 100% of the money you give me will actually go towards buying consumer items that help the economy.

Sincerely,
Queasy

 

[marincounty]

How about they recover some money from the overpaid executives first?
I'm sure they were getting million dollar bonuses when times were good.

 

[Gibson486]

Dear Queasy,

Thank You for your letter. Unfortnately, in order for us to give you money, you would have had to have money in the first place. I know it does not make sense, but we are congress and nothing we do needs to make sense. The fact that you make less than $150K means you never had money and it means nothing to us, the govt, and to our clients, the corporations. Truthfully, you are cheaper than a bank, but you are not cheaper than the bank owner's wife. We hear arguments that giving money back to you, the people, will result in a more stable economy. We are not denying this will work, but we are saying that congress must do all it can to stablize the economy AND still give people in congress the power to accept bribes and freebies from the new CEO's wife. So, as you can see, we are doing all the bickering we can to stablize govt jobs, which will ensure that we will always fight for the American people during this economy.


your Truly,

The govt.

PS
Please note that a victory is not guaranteed.

 

[manowar821]

I'd like 1 million dollars, plzkthx.