"Then the last thing he said was that hedge funds are the key things," Cramer said. "Hedge funds peaked precisely when he bought them."
Instead of buying Vikram Pandit and John Havens' Old Lane hedge fund, Prince should have bought the money mangers themselves. "You should never buy a hedge fund," he said. "All a hedge fund is is managers, but I don't think Chuck Prince knew that."
Cramer said he knows he's come on strong speaking out against the Citigroup chief executive, but at the same time, when he saw that Old Lane has gone down nearly 6%, he's begun to think what exactly it will take to get Prince fired. "Corporate America is such an unfair place," he said. "Lots of executives stay on. This isn't like the NFL, where you get fired after a couple of losses."