This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Monday's Financial Winners & Losers

Financial stocks were mostly stuck in reverse on Monday as a plethora of bad news countered mounting calls for the government to bail out troubled subprime borrowers.

Treasury Secretary Hank Paulson essentially confirmed a Friday report that the government is formulating a plan to help stymie what he called "preventable foreclosures." The plan's intent is to give the economy some traction as it slides seemingly ever downward due to the sinking housing market. And Sen. Hillary Clinton (D., N.Y.), in a letter to Paulson, called for a 90-day moratorium on foreclosures and at least a five-year freeze on adjustable mortgage rates.

Still, individual financial stocks were losing ground. Countrywide (CFC), Citigroup (C) and Wells Fargo (WFC) -- all of which surged Friday on news their executives are meeting with regulators to formulate the rescue plan -- each were down 0.7% or more. Washington Mutual (WM) traded in and out of the red, though it was recently up 0.7%.

Also on Monday, Boston Federal Reserve President Eric Rosengren said evidence points to the foreclosure crisis getting "worse before it gets better." But he also said that one-fifth of subprime borrowers could actually be well-qualified enough to upgrade to prime loans and/or participate in loan guarantee programs.

He also cited the 1.2 million subprime borrowers -- a full 55% of those with non-jumbo adjustable-rate mortgages (ARMs) occupying mortgaged houses -- who haven't missed a payment in the past year and could also qualify for a loan guarantee program.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
NOVB $21.67 0.00%
CME $96.84 0.36%
DFS $59.09 -0.37%
ETFC $26.97 1.70%
MET $51.75 0.66%


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs