Something is not right about ETrade....I wish I knew what!
Wiener opened the accounts on Aug 19 and started selling the shares beginning 3 Sept 2009....what was Etrade doing between 19 Aug and 3 Sep?? Besides brokers don't act upon verbal cues...it has to be black and white....for example, from my experience.....I once deposited share certificates and broker said I could trade but on margin and if the certs did not go thru, I would have to buy back the shares and return them. Anyways, fortunately, I did not trade but on the 3rd day, I did attempt to sell when I got the message 'shares are locked up for trading' please contact the broker.......when I called up the broker, they said that the TA did not accept the Certs ( they had called in the cert number and also faxed)...so I called up the TA and asked them why....this is what they said....I had earlier registered those shares as lost and the TA had replaced them! So their you go...all the verification done in 3 days flat! O.K..lets assume that ETrade did not realize till the shares were sold..realized them after analyzing the trades....hard to believe.......to make a long story short, I think ETrade acted upon some external signal! imo.
