Cramer's 'Mad Money' Recap: Verizon's Horizon Sunny

One stock that has the luxury to pick among the rubble and buy good paper and whose sole existence is to capitalize off this situation is Chimera Investment (CIM Quote), Cramer said.

CIM, which went public on Nov. 16, was designed to feast off good paper because the banks have no choice but to unload it all, he said. It is one of the select few companies that have the money and knowledge to take advantage of the current situation, he added.

Since CIM became public, neither the company nor the stock has done anything, Cramer said. What they're waiting for is a bottom, and he said he wants investors in it before they start taking action.

Cramer said he expects CIM to buy only the good stuff that the banks cannot hold on to and profit from.

CIM, he said, is externally managed by a subsidiary of Annaly Capital Management (NLY Quote) and thus, Cramer believes Annaly CEO Michael Farrell, the so-called "king of mortgages," has what it takes to lead the stock higher.

However, as CIM is a small-cap stock, he recommended people buy it in increments and use limit orders. Also, don't buy it right away, Cramer warned.

Mad Mail

In his "Mad Mail" segment, Cramer explained to viewers that in the 1980s and the 1990s, the great growth stocks never thought about paying dividends. But when their growth slowed down, they started to paid dividends to attract more buyers.