Never Mind the Beneficiaries of the Windfall

Wall Street fat cats make out? I don't know -- not if you worked at Lehman or AIG (AIG - commentary - Cramer's Take) or Bear. Not if you worked at Fannie (FNM - commentary - Cramer's Take) and Freddie (FRE - commentary - Cramer's Take). Not if you worked at Goldman (GS - commentary - Cramer's Take) or Morgan Stanley (MS - commentary - Cramer's Take) and could still be in peril. And remember that Goldman Sachs did not do most of what is being castigated about.

More important, though, there is a greater chance that more people don't get thrown out of their homes.

Who is still in these homes that were bought in 2005 and 2006? The people who are struggling and doing their best. The others have walked away. We need to help them, and we need to help those who did not do anything wrong.

Also, we don't know if the ETFs will come to be used to crush this stuff anyway. We also don't know if this will work. Everyone seems to think it is a done deal. I am saying that you should sell the financials into the strength and let the ETFs knock them down, and you can get in lower at this point.

We have stop worrying about who will make out like a bandit, and we have to focus on avoiding the stone age of finance where we could be in barterville. Who is to say that we could not have had a Great Depression? Who is to say that? Do you want that on your hands? Even President Bush didn't. They have done more in the last two weeks to avoid the Great Depression 2, than FDR ever did, even though some of it might have been very wrong and some of it might help people who shouldn't be helped. Stop with the niceties.

We can't have another Great Depression. I simply don't believe that most people understand how close we were and how we could still be in a depression.

At the time of publication, Cramer was long Goldman Sachs and Morgan Stanley.

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