I like Wachovia Corp., American Express Co., CIT Group Inc. and American Capital Strategies Ltd. ! Don´t you ?
Comanche, that article's equivocal. The rate of defaults on credit card debt cited there is hardly catastrophic, either. Point being, the credit markets are in bad shape, but what's being priced in is a lot worse than just "bad shape". Dividends on some of the money-center banks are at or approaching 5%, and these guys raise their dividends every year. At these prices, you'd think they're in danger of missing an increase next year. I doubt that. I also like that Merrill downgraded a bunch of financials this morning. Those guys are always late, it seems.
All I am saying is that the rediculous imbalances we've piled up over the last several years are coming home to roost now. I don't disagree with the premise that some of these financials are getting cheap, I do think there is going to be another major sell-off before you can put a fork in it though.