AMTD might be able to buy the brokerage business cheap but that wouldn't be enough to cover the subprime losses. They might be worth 0/share after cancelling out the losses...
Good for AMTD... but this might turn out to be a short lived rally for ETFC traders. I mean, if you buy ALL of ETFC -- you take over the balance sheet and assets as well. I doubt anyone wants to touch that stuff.
len: ETFC is trading up 7% after hours, but not sure the CEO's decision to cancel a speaking engagement is necessarily evidence of a potential buyout. More likely he's just trying to avoid a lot of pointed questions about their exposure to writedowns of their CDO's and mortgage assets .... and why he got them into this mess to begin with.
But I won't be surprised if eventually Ameritrade tries to buy ETrade at a 'deep discount' to the $22 offer they supposedly made over the summer. It's the best way to get all the ETrade accounts.
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