TheStreet.com RealMoney

Remember 1990?

By Jim Cramer

 About this article:
 The speed at which the situation is developing in the banks, and the lack of a plan for mergers and closings, create a tremendous amount of indecision everywhere except of course the rest of the market, which seems to think that these stocks are irrelevant, even though I am not buying it. It's a nice respite from the endless selling, but without a plan for the next set of shoes to drop, I don't want to get into the closet. I just don't get how the federal government can put out that silly list of banks on the ropes when anyone in government from 1989 knows that once a bank has more than 2% of its assets in non-performers, that bank is in danger of being run over. What I don't understand is why the government isn't more proactive. They can see what is happening at Nat City...

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