E*Trade's strategy is to make money on the margin balances, and the larger the balance, the more desirable the account is.

The SEC has been pretty strict about monitoring conversations between investment counselors and their clients.

There's a tremendous price war going on. E*Trade's strategy is not to make money on the $10 they charge to buy and sell a stock, but to make money on the margin balances.

It looks like they're trying to reduce their capital- markets business to try and save their futures and options and commodity business, which is what they're known for.