Financials: Bargains hunting after the great fear

Mortgage Giants Take Beating On Fears Over Loan Defaults (WSJ)

Citigroup (C) (alpha global)

S&P 100 Default Risk (bespoke)

S.E.C. Criticizes Ratings Agencies’ Conflicts of Interest (dealbook)

SEC Should Investigate Bear Collapse: JP Morgan CEO (nyt)

Derivatives trading: banks recover (alea)

Preparing for Bear Stearns II? (seeking alpha)

Financials to Oil Ratio as a Bottom Indicator (seeking alpha)

Financials Not Out of the Woods Yet (seeking alpha)

U.S. Stocks Gain Most in Month on Lower Oil, Dimon's Outlook (bloomberg)