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Capital One Is Intriguing

By Jim Cramer

 About this article:
 Of all of the hopeful banking stories out there, the one that most intrigues me is Capital One . This is the bank that, not long after it priced its stress-test-related secondary at $27.75, got crushed down to $20 on a combination of President Obama's outspoken comments on credit card abuse and a spike up in nonperformers. The selloff down to $20 proved to be a great buy as ever since then, the news from Capital One is all good, including a remarkable turn to $30, powered by TARP payback and a stabilization in credit card defaults. In fact the stabilization in credit card defaults, albeit at a high level, was a theme of American Express and Target last week and is a reminder that the supposition that people walk away from credit cards just isn't true. In fact, it might be the opposite. I think this...

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