Cramer's 'Mad Money' Recap: Get to Know NCR

WaMu's Kerry Killinger rocketed past Motorola (MOT Quote) CEO Ed Zander and Alcatel Lucent's (ALU Quote) Pat Russo to the top position. Killinger had previously been unranked on the Wall of Shame.

Cramer said Killinger has accomplished "something precious, something unique," to pull ahead of Russo and Zander, whose performance Cramer had ridiculed regularly on the show. Killinger has done such a poor job running Washington Mutual that the Fed will cut rates to bail the bank out, Cramer said.

On Wednedsay there will be an analysts' meeting for Washington Mutual. Cramer believes that will be occasion for Killinger to "spend more time with his family."

Cramer described what he saw as Killinger's "endless quest to make sure people who couldn't afford to borrow, nevertheless borrow," adding that, "This guy practically pioneered no-doc loans for no-doc aliens."

Investors who like Washington Mutual's dividend should be wary, Cramer said. WaMu's yield is "not sustainable," and the company's earnings per share have failed to exceed their dividends. Dividends that are covered by earnings are great for investors, but dividends that aren't matched by earnings are terrible, Cramer said.

Compared to total loans, Washington Mutual's allowance for losses is far too low. This, coupled with $5.45 billion of nonperforming assets, earns Killinger the top slot on the Mad Money Wall of Shame.

Mad Mail

The first viewer wrote to ask Cramer how he intends to play the environment during NBC Universal's Green Week? Cramer answered that all week he will work on individual ideas about how to play green, focusing on companies that make power cheaper but are still profitable.