Banking, finance, and taxes

Cramer Talks Mortgage Lenders Closing Shop (LEH, WFC, WB, BAC)

On today’s STOP TRADING on CNBC, Jim Cramer said that the Lehman (NYSE:LEH) exit from the mortgage business is a positive because this wasn’t making money.  He’d be a buyer on that news.

Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), and Wachovia (NYSE:WB) get it and they will be able to gouge down the road after all the mortgage players have imploded.  It is bad for home owners, but great for these guys.  The sentiment has changed since last Friday and the closures in the mortgage operations are actually a good shakeout.

These things hurt the homebuilders, but that is no surprise.

Jon C. Ogg
August 22, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.

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