Wall Street is still in chaos. Yesterday, regulators seized America’s biggest savings and loan bank WaMu (NYSE:WM) and sold it to JPMorgan Chase (NYSE:JPM). It was the most spectacular bank failure in US history.

The crisis, and the bungled attempts of the government to ‘fix’ it, is setting up some great contrarian investment plays.

“All it takes to make money on Wall Street these days is a ‘for sale’ sign,” says Andrew Snyder. “Companies in every industry are hurting from the financial crisis. Their only way out is to hope a buyer comes along. The action is creating a lot of great profit potential for investors.”

Wall Street is still in chaos. Yesterday, regulators seized America’s biggest savings and loan bank WaMu (NYSE:WM) and sold it to JPMorgan Chase (NYSE:JPM). It was the most spectacular bank failure in US history.

The crisis, and the bungled attempts of the government to ‘fix’ it, is setting up some great contrarian investment plays.

“All it takes to make money on Wall Street these days is a ‘for sale’ sign,” says Andrew Snyder. “Companies in every industry are hurting from the financial crisis. Their only way out is to hope a buyer comes along. The action is creating a lot of great profit potential for investors.”

Blue Ridge CapitalBlue Ridge Capital | John A. Griffin Holdings AnalysisThis post is being written as part of my Investment Securities Tool which analyzes the holdings of hedge fund managers.Blue Ridge Capital is ran by John A. Griffin. Griffin is similar to Steve Mandel at Lone Pine Capital and Lee Ainslie at Maverick Capital in that they all are 'Tiger Cubs' (a.k.a. pupils of Julian Robertson while at Tiger Management). Griffin though, is more well known because he was Julian Robertson's right hand man. So, needless to say, the dude knows his stuff. Blue Ridge seeks absolute returns by investing in companies who dominate their industries and shorting the companies who have fundamental problems. And, right off the bat that presents us with a bit ...

Three Financial Groups In Trouble The impact of the credit crunch saw two banks and a financial and industrial group fail on Friday in three different countries in the most damaging day so far since the crisis started last August.US banking regulators on Friday swooped in to take over mortgage lender IndyMac Bancorp Inc, the second-largest bank failure in US history and the fifth bank to close this year. In Denmark the country’s central bank bailed out the Roskilde Bank after it had encountered severe liquidity strains following asset write-downs. And in London, media reports said the $A4 billion Dawnay Day financial and industrial group had become a victim of the credit crunch after talks over the weekend agreed to the appointment of administrators to some of its companies and businesses later today, and a string of asset sales. The three separate problems show that the credit crunch hasn’t gone away: ...

IndyMac Bancorp, Inc. (NYSE:IMB) shares are down 14% and just hit $1.34 a share. A year ago they traded above $33 which comes out to a -96% Return, but who's counting? Shares of IndyMac are seeing heavy volume today: the stock has already traded more than 3 million times, compared to its daily average volume of 4.5 million shares. Masters hoping for a bounce here, forget about it.  If Bear Stearns went for $2 a share the IndyMac could go for 10 Cents.  Dead cats bounce better than IndyMac. Via Forbes.com -- (May 27th, 2008) UBS analyst Eric Wasserstrom cut ...