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Cramer: Monitoring the Black Holes

By Jim Cramer

 About this article:
 With the extraordinary destruction of Washington Mutual , we only have one problem institution left to be solved. A month ago I detailed what I called "black holes," a term that the companies I described uniformly hated but that has proved all too prescient. Let's review where we are now: Washington Mutual is gone. This lender, the worst major public lender in the country, should have been seized months ago but got bailed out by TPG in what will now be regarded as one of the worst investments of $7 billion in history. TPG has made so much money I am not worried, but this is a monumental black hole that disappeared overnight. AIG : seized by the government. Many people believe there will be something left after the asset sales and the repayment of the onerous government loan. Hank Greenberg doesn't seem to believe it; he's...

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