TheStreet.com TV Recap: Distressed-Debt Gold Mine

Broker Lowdown

Goldman, which Cramer owns for his charitable trust, Action Alerts PLUS, is beginning to get the benefit of the doubt now that Lehman Brothers (LEH Quote) and Bear Stearns have reported, he said.

"I think the stock is going right back to $250," Cramer said. "I would buy [it] aggressively today." The stock was trading around $200 during the early afternoon.

Bear gets the No. 2 slot because it was "much more proactive than Lehman in terms of turning the mortgage morass into something really positive," he went on to say.

If people want to short here, Cramer said he would short Merrill Lynch (MER Quote) because it has been less proactive as it's still just getting into the mortgage business.

On a separate note, Cramer told Greenberg that the bounce in Accredited Home Lenders (LEND Quote) and IndyMac (NDE Quote) is due to short-covering.

After yesterday posting a Dirty Dozen list of stocks everyone is shorting, Cramer said that now all the firms are reacting to it and saying they don't belong on the list.

"I never said they did belong on the list," he said. "It is a list of companies that are being targeted, not of companies that I believe should go down."

In fact, Cramer said he'd be more inclined to be long the list than short it.