E-Trade Financial was singing the mortgage blues on Monday and a rocky weekend pondering how the market would react to bad news. Apparently nobody apppreciated the bad news, and holding mortgage backed securities is still risky. Shares of the online brokerage E-Trade Financial Corp. plunged 59 percent after the company warned late Friday that the deteriorating value of its mortgage-backed securities may force it to take significant writedowns in the fourth quarter.
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