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ETFC's Not a Buy Off SCHW

By Jim Cramer

 About this article:
 Tomorrow E*Trade reports earnings and I can see the angst on the people's faces at the firm. It has to take some charges, actually many charges, to bring its mortgage portfolio up to date -- the bigger the better! -- but it is painful as all get-out because this would have been a fantastic quarter. I say that because that Schwab quarter was a thing of beauty with lots of trading and a lot of money in. Just perfect. And E*Trade's would have been, too, if it weren't for the mortgage exposure. I like Mitch Caplan a lot and I am quite confident that he will put all of these mortgage problems behind them over time, including nagging worries in home equity loans. I believe that The New York Times overdid the worries and drove the stock down big off of questions about E*Trade's actual solvency, which I think...

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