Cramer's 'Mad Money' Recap: Misery Loves Usury

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"On 'Mad Money' we reserve the right to profit from anything, no matter how heinous," Jim Cramer told viewers of his TV show Thursday.

Subprime lending might be a problem, but it is not necessarily bad for the economy, he said. Although it's going to be hard for the working class to take out a loan "until the Fed bails them out" of this crisis, Cramer said he sees this as an opportunity to make some money.

Two "great" ways to play the working-class lending crisis are with "pawnbrokers and loan sharks," he said. Folks who can't get loans will likely have to resort to these shops to get cash.

Of the pawn shops, Cramer said he likes Cash America International (CSH). The other, "more morally dubious" loan shark stock he likes is Advance America, Cash Advance Centers (AEA).

Starting with AEA, Cramer said the company is growing and is "cheap, cheap, cheap." The less-risky alternative is Cash America, "the largest player in pawn lending" and a great way to play the subprime lending problem.

"Where others see catastrophe, I see opportunity," Cramer said.

The best way to play the subprime crisis is not to go short New Century (NEW) or to bet against NovaStar (NFI) -- it's to buy AEA or Cash America, he said.

Rooting for Chemed

Cramer continued his search through the rubble of last week's selloff for stocks that don't deserve to be down and should be seen as buy opportunities. On Tuesday's show he offered General Cable (BGC), on Wednesday it was First Solar(FSLR), and on Thursday Cramer suggested Chemed (CHE).