Why Citadel Pounced On Wounded E*Trade

Wall Street Journal   |  SUSANNE CRAIG, GREGORY ZUCKERMAN, MATTHEW KARNITSCHNIG   |   November 30, 2007 10:15 AM

Read More: Citadel, Citadel Investment Group, E*Trade, E*Trade News, Etfc, Etrade News, Joe Russell, Kenneth Griffin, Breaking Business News
stumbleupon :Why Citadel Pounced On Wounded E*Trade   digg: Why Citadel Pounced On Wounded E*Trade   reddit: Why Citadel Pounced On Wounded E*Trade   del.icio.us: Why Citadel Pounced On Wounded E*Trade

On Monday, Nov. 12, Kenneth Griffin was boarding a plane to New York when he received an urgent call from Joe Russell, a lieutenant at Mr. Griffin's big hedge fund, Citadel Investment Group. Shares of online broker E*Trade Financial Corp. were plunging in value, and Citadel, a holder of E*Trade shares and debt, was losing money rapidly.

"We need to focus on this fast," said Mr. Russell, Citadel's head of credit investments, relaying word that an analyst report suggesting possible bankruptcy had sent shares of E*Trade reeling.

Comments for this post are now closed

 
 

Comments
0
Pending Comments
0

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Comments are closed for this entry

You must be logged in to reply to this comment. Log in