Which of the regional banks is next to fall after IndyMac? The market is looking to create some more victiums in its search for a bottom still a few months and a lot of pain off.
Cramer and others are telling people the bodies are coming and the market is now expecting it. Who are these bad banks of which Cramer speaks? He broke them up into two tiers:
The Worst:
Downey DOWNEY FINL CORP (DSL), Corus (CORS), FirstFed Financial (FED) and BankUnited (BKUNA).
Almost as Bad as the Worst:
National City [NCC], Washington Mutual [WM] and First Horizon [FHN].
Dividend cuts will come next as there are likely several out there short of cash who's cost of borrowing will be too high.
$50.0 (07/15/08)
