ETrade hit be mortgage mess

According the November 13, 2007 edition of The Wall Street Journal, ETrade lost $2.2 billion of its market value during trading on NASDAQ Monday to close at $3.55, down 59% for the day and 84% for the year to date. ETrade is "...a company that helped pioneer online stock trading..." according to the Journal and has also been involved in the home mortgage market. This represent another instance in which a large number of dollars have simply vanished.