Well at least thats the headline that you'll read. The real interesting note is that the CEO claimed that loss provisions have peaked in Q3. Stay tuned on ETFC as they still have a solid online brokerage that is very profitable. They also have access to the new government Capital infusion and TARP programs so the combination should provide any liquidity if needed. These options pretty much takes any bankruptcy fears off the table. Without BK fears, ETFC has a bright future once the current mortgage loans are run off. Anybody doing a quick valuation of Ameritrade (AMTD) will quickly gather that a E*Trade without the shackles of non-performing loans would be very valuable.
Stay tuned as this stock should get interesting!