That would make sense, though I haven't seen any confirmation. I would imagine that in order to receive TARP, E*Trade would be required to lend again with the TARP funds. So, maybe what we're seeing with the mortgage business is E*Trade's attempt to be ready to hit the ground running when they are approved for TARP.
Thanks for the rumor. One one hand, I'd like to finally resolve the TARP discussion with a nice cash infusion, but on the other hand, I'd prefer for E*Trade to shake off this "insolvency" discussion on its own and prove that they are in recovery mode without any government involvement (ie additional dilution).
It seems too many people are hung up on the expectation of TARP, so unless we get TARP confirmation, the share price just isn't going to strengthen substantially for another couple of quarters IMO.
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