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Jim Cramer's Stop Trading! Subprime's Dirty Dozen

TheStreet.com Staff

It's time to take stock of the bears' dirty dozen in the faltering subprime sector, Jim Cramer said Wednesday on CNBC's Stop Trading! segment.

Cramer said that with this week's meltdown of New Century (NEWC) -- the Irvine, Calif.-based lender to homebuyers with poor credit histories -- short-sellers and others are targeting 12 players in the subprime market.

Cramer said some of the companies are doomed and others are being unfairly lumped in, but he stressed that investors must know who is in the shorts' targets before buying or selling any of these names.

These are the companies:

1. IndyMac(NDE)
2. CharterMac(CHC)
3. Friedman Billings(FBR)
4. Fremont General(FMT)
5. Redwood Trust(RWT)
6. Newcastle Investment(NCT)
7. American Home Mortgage(AHM)
8. Gramercy(GKK)
9. RAIT(RAS)
10. Accredited(LEND)
11. Thornburg Mortgage(TMA)
12. CapitalSource(CSE)