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No Banks, No Rally

By Jim Cramer

 About this article:
 The darn banks aren't complying with Doug Kass' call! I look at the best of the best, and I shudder to think that Obama has caved to the AFL-CIO, which wants nationalization, as well as to the populist rhetoric to string up the bankers. Wells Fargo , JPMorgan and U.S. Bancorp are going to be the battle lines here. They don't have China going for them, as the minerals and infrastructure plays have. They don't have oil going for them, which can be a powerful driver. They don't have the balance sheets going for them, a la tech (although it sure doesn't matter when the herd thunders out of Pepsi and General Mills ), and they have the government dead against them. I keep thinking back to what Sheila Bair said to me at the Town Hall meeting last week. She made it very...

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