Cramer: Look at the Facts on Financials

This column by Jim Cramer appeared on RealMoney earlier today. To check out a free trial to RealMoney, please click here.

If you listen to the bank bears, everything's worse than it was four weeks ago. The losses are increasing, the auction-rate preferreds are now biting, the mortgage implode-a-meter now measures how many homebuilders are going under. German banks are repossessing Vegas vanity projects, and Freddie Mac's (FRE Quote) moaning that it isn't their fault, they didn't compromise standards, things have just gotten much worse.

To which I say, let me give you some evidence that would suggest otherwise. Check out the prices from July 15 and those from last night's close:

• Ambak (ABK Quote): $1.70 -- $4.59
• MBIA (MBI Quote): $3.90 -- $8.28 (not including today's blowout earnings!!)
• Wachovia (WB Quote): $8.90 -- $17
• Bank of America (BAC Quote): $18 -- $31
• Fannie (FNM Quote) (yes, FNM!): $6.90 -- $9.90
• Freddie (yes, FRE!): $4.05 -- $5.89
• Wells Fargo (WFC Quote): $19.90 -- $29
• JPMorgan (JPM Quote): $30 -- $39
• Lehman (LEH Quote): $11 -- $17
• WaMu (WM Quote): $3.10 -- $4.90
• Citi (C Quote) (yes, C!): $14 -- $18
• AIG (AIG Quote) (yes, AIG!): $20 -- $24

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