The Mortgage Dirty Dozen Gets Filthier By Jim Cramer About this article: These financials are just deadly. Just amazingly deadly. This market just gets crushed every time it tries to advance. The ground zero? The housing index (HGX) and all its spawn, from Fannie and Freddie to CIT and E*Trade, Washington Mutual or Countrywide. (For a real depiction of the geographic ground zero, watch Wall Street Confidential with Farnoosh Torabi.) One of these players has to blink. It can't be Fannie and Freddie; they'll be kept afloat by Congress no matter what, even if they are insolvent. Somehow the federal government will get money to them. But there's only one real way to make it happen, and it is not a question of putting more liquidity into the system. There are only two ways to stop this slide: the federal government must create a resolution trust for residential mortgages, or we need to lower rates below the two-year Treasury now. Neither looks... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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