Td Ameritrade’s Website Slowdown Leads To Investor Panic
According to TD Ameritrade’s website, Ameritrade’s investment clients are experiencing either an inability to log into their trading accounts or a slowdown in processing trades. TD Ameritrade spokesperson confirmed to CNN that investment clients are experiencing login problems due to an increase in trading activity. The TD Ameritrade website directs investment clients to call the online broker if they are unable to login to their accounts online.
TD Ameritrade also provides this statement on its site to comfort antsy investors concerned about TD Ameritrade’s financial health:
“The serious issues taking place within the financial services industry continue to evolve as we learn more details and come to terms with their impact on the nation’s financial markets. We remind our clients, associates and shareholders that our capital structure and liquidity remain strong and stable. TD Ameritrade continues to have no direct exposure to the U.S. trusty estate market and the associated complex financial securities that are at the root of this liquidity crisis.”
The TD Ameritrade statement sounds positive on the surface but what it does not address is TD Ameritrade’s indirect exposure to the credit market crisis. TD Ameritrade is exposed to current market conditions as great as any other investment bank. The following was the “comforting” statement released by Lehman Brothers with their first quarter 2008 earnings press release:
“In what remains a challenging operating environment, our results contemplate the value of our continued commitment to building a diversified platform and our focus on managing risk and maintaining a strong capital and liquidity position. This strategy has allowed us to support our clients through these difficult and volatile markets, while continuing to fabricate and strengthen our global franchise for our shareholders.”
Lehman Brothers declared Chapter 11 bankruptcy protection earlier this week.
Concerned TD Ameritrade clients who are unable to login to their accounts may also find it difficult to call the online broker. I waited over 23 minutes this morning to speak with a TD Ameritrade trader. I predict that the wait time will increase over the next few days as more and more TD Ameritrade clients are unable to trade online and become concerned with TD Ameritrade’s ability to continue as a going concern.
For those TD Ameritrade clients wishing to try calling, the number is 1-800-669-3900.
Sources:
www.tdameritrade.com
www.lehmanbrothers.com
http://blogs.barrons.com/techtraderdaily/2008/09/19/ameritrade-web-site-experiencing-slowdown/
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Filed under Franchise Bankruptcy by on Sep 1st, 2011. 
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