E*​Trade Shares Plummet" Says Wall Street Journal. The article says, "E*​Trade uses some $​40 billion of customer cash from its bank and brokerage to make investments. The company said its $​3 billion portfolio of asset-​backed securities includes about $​450 million of so-​called collateralized debt obligations and second-​lien securities," citing concerns that savers may pull deposits. Other brokerages using "​bankerage" models, or FDIC insured deposit accounts instead of money market funds, have seen big losses on the re-​investment side of their businesses.

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