TheStreet.com TV Recap: Sarbanes-Oxley Has Worked

"We have to guard against the rapacious nature of the venture capitalists and the rapacious nature of the brokerage houses, all of which exist to be able to ring the register or bring in fees," he said. "One reason why I started TheStreet.com is because the rapacious nature of the system needs to be exposed."

Cramer said he is "hardly a conspirator about it," as he made a lot of money off the game, mostly off the public because the public did the wrong thing. But he believes the public should recognize that nobody's out to save them.

This, however, does not mean Cramer wants market-players to refrain from investing in the stock market.

"Existing companies are radically undervalued because of the problem with mutual funds only liking growth," he said. "I don't think the stock market is rigged; I think the new products coming out are [really bad]. But a lot of the existing product is good and worth taking a look at."

Further, Cramer said he regards private equity as being "anti-rapacious ... because they enable the portion of the market that will never catch a bid from the mutual funds to be profitable for you."

The private-equity firms are a "great equalizer for the individual investor," he said. They bring out high-yield debt that people want, and they generate "tremendous" fees for the brokerage houses.