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Banks Could Go the Way of the Home Lenders

By Jim Cramer

 About this article:
 Is it time to think about the unthinkable? Is it time to think about major bank failures? Let me give you a thought. A year ago, I posted a list of the Mortgage Dirty Dozen on this site and I predicted the unthinkable: that they would all be obliterated in the coming year. Let's see how 10 of them have done from one year ago: IndyMac: $29 then; $4 now. Centerline: $19 then; $4 now. Friedman Billings: $5 then; $2 now. Fremont General: $7.40 then; now, pretty much nothing. Redwood Trust: $54 then; $30.75 now (good one!). Newcastle Investment: $27 then; $8 now. Gramercy: $30 then; $16 now. RAIT Financial: $29 then; $5 now. Accredited-purchased-incredible, and well done! Thornburg: $23 then; $1.54 now. CapitalSource: $24 then, $14 now. I think the declines aren't over. I think there is more downside. Or you could consider the Gang of Four, the four horsemen of the financial apocalypse: Ambac: $90 then; $7...

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