TheStreet.com TV Recap: Shorts Look to Regroup vs. Subprime

AIG had a "blowout quarter," but "$70 is where [former CEO] Hank Greenberg seems to live to sell stock," Cramer said. Hank Greenberg's not going to come out publicly and say it, but "he wants the stock lower because he hates it," Cramer said. "I respect that."

When asked about whether it's OK to get into the regional banks here, Cramer said it is not because they have mortgages.

"Remember where we are in the trading cycle," he said. "A company that has mortgages -- it's very easy to say a third of their subprime is in default. They're not going to answer that.

"I could rumor down any of the regional banks right now," Cramer continued. They are easy to take down and "easily picked on," he said.