Cramer's Banks In Need Of A Preferred Offering
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Date updated:04-03-2008

"Banks should use today's rally as an opportunity to issue preferred stock and raise capital," Jim Cramer said on CNBC's "Stop Trading!" segment Tuesday.

symbol name last price % change open
  • +
  • WB
    Wachovia Corp (ne
  • $6.31
  • 0.00%
  • $6.29

Wachovia (WB) needs cash to cover its dividend.

People owning WB also tend to own: ARAYCHCG.OBCOGOCVYDUGFXEGASS

TheStreet.com Rating: D What is this?

  • +
  • WM
    Washington Mutual
  • $0.1604
  • 0.00%
  • $N/A

Washington Mutual (WM) too, needs money. And the time to act is “right now,” Cramer said.

People owning WM also tend to own: BACBBTCCMAFITBJPMKEY

TheStreet.com Rating: D What is this?

  • +
  • FNM
    Fannie Mae
  • $1.10
  • 0.00%
  • $1.22

He even urged Fannie Mae (FNM) and Freddie Mac (FRE)to take advantage of the short squeeze in their respective stocks to make an offering of their own.

People owning FNM also tend to own: ABPIADPTDCREBAYEDCIFMDHTE

TheStreet.com Rating: C What is this?

  • +
  • FRE
    Freddie Mac
  • $1.25
  • 0.00%
  • $1.40

He even urged Fannie Mae (FNM) and Freddie Mac (FRE)to take advantage of the short squeeze in their respective stocks to make an offering of their own.

People owning FRE also tend to own: CCATDEFNMGEKOLLY

TheStreet.com Rating: D What is this?

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