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Discount Brokers Gone Wild
By Rick Aristotle Munarriz (TMFBreakerRick)
November 20, 2006

If you're an online discount broker, you love to see frenetic trading. Buying and selling is sweet music. However, what happens when it's the brokers who are doing the wheeling and dealing?

This morning found Charles Schwab (Nasdaq: SCHW) and Ameritrade (Nasdaq: AMTD) on opposite ends of the exchanging process. Schwab agreed to sell its wealth management subsidiary to Bank of America (NYSE: BAC) in an all-cash deal for $3.3 billion. While Schwab is selling, Ameritrade will be buying. The difference here is that Ameritrade is getting serious about eating its own cooking and is more than doubling its share repurchase plan.........
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