Stop Trading!
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Jim Cramer was bearish on several financial names on CNBC's "Stop Trading!" segment Friday. Cramer blasted several banks which he does not have on his buy list. First up was Downey Financial (DSL - Cramer's Take - Stockpickr), which Cramer said was "so 1990s," and has the worst nonperforming assets. He said to go through Downey's financials because "they are daunting." Following this, Cramer said that Washington Mutual(WM - Cramer's Take - Stockpickr) is "horrible." Moving on to Bank of America(BAC - Cramer's Take - Stockpickr) Cramer said the company's acquisition of Countrywide Financial(CFC - Cramer's Take - Stockpickr) was a "big mistake." Cramer said that Bank of America is now the "ultimate toxic waste pit."
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