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Financial headlines today from Bloomberg:

Ex-Bear Stearns Fund Managers Indicted for Fraud

Citigroup Will Have `Substantial’ Further CDO Writedowns, Crittenden Says

Paulson Calls for Clear Procedures to Shut Down Failing Investment Banks

Triad Will Stop Insuring Mortgages as Talks Collapse

U.S. Charges 400 in Mortgage Frauds, Justice Department Says

Bottom line: it feels like the pessimism towards the financial sector is more than a bit overbought right about now…

…and stocks, equally oversold:

Better call 1-900-MIX-ALOT, cause this baby got back:

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