E*Trade: Better late than never

WSJ says E-Trade Cut To Hold From Buy By Sandler O'Neill. And in a separate story, the paper notes ETFC has dropped by half this a.m. Quotes a Citi report that E*Trade could face bankruptcy from CDO and loan losses.

Better late than never for a downgrade, I guess. But E*Trade has been heading south for months. Don't analysts ever look at a chart?