E TRADE Financial Corp (ETFC)

[suzyHomemaker]

No, that doesn't sound good.

But it is consistent with that I have been hearing on the business news. My understanding is that starting in Q4 this year auditors are now mandated to be more strict on the mark to market value of mortgage related assets.

Many banks and brokers are still showing assets on the books near full value even though that does not depict reality.

Apparently, the ability to hide losses is about to change.

This may be ETrade preparing for that asset revaluation phase.