TheStreet.com TV Recap: Rate Cut Could Be Subprime's Gift

"He's now got the critical mass he needs to be able to make that company attractive to other companies," Cramer said.

Cramer also called private-equity firm Kohlberg Kravis Roberts' acquisition of Dollar General (DG Quote) "brilliant."

"We will see Dollar General back in the market in three years," he predicted.

However, the fact that Citigroup (C Quote) has raised its takeover offer for Nikko Cordial is a "terrible deal," Cramer said.

"Citigroup is buying into the worst market in the world," but this is a "classic" move because Citigroup is "poorly managed," he said.