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Could the Savior Come From Abroad?

By Jim Cramer

 About this article:
 You read the dirty dozen. Now let me give you some hope: Saviors from out of the country? BNP, Deutsche Bank ? Toronto-Dominion ? Bank of Nova Scotia ? Maybe ING ? I am completely focused on the financials as a place that a second-half rally can come from because, well, without them, we aren't going anywhere except down. The financials are controlled by house price depreciation, which is getting worse but could bottom this quarter because of the vintage rollover, the decline in housing starts and the possibility of a federal housing bill, although the latter is such a tough nut because of the president's amazing laissez-faire "Rome is burning" attitude. I mention those foreign banks because it's pretty obvious we don't have any American banks except USB that can make premium bids, and we have other banks that are so untrustworthy that they are afraid to...

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