Another cascade of depressing news as more and more financial and other groups are caught up in the imploding US subprime mortgage and housing sectors, writes Glenn Dyer.
Etrade
Bank America and ETrade join the subprime hit list
Bank America has warned that third quarter earnings will take a hit from the impact of the subprime mess and online trading company, ETrade, says earnings would slump 25% in the current quarter due to the costs of exiting the wholesale mortgage lending business.
Tips and rumours
Here’s some juicy Sydney finance news. After ANZ’s take-over of E*TRADE Australia- the only institution independent broker of any real size, a large exodus of all the good staff is well under way. This week, ANZ let the contract of the incumbent MIS lapse and has announced the appointment of an ANZ man. After six weeks […]





