Cramer's 'Stop Trading': Value in Salesforce.com

06/24/08 - 03:45 PM EDT

AAPL CRM CYN JPM (Action Alerts PLUS PICK) RIMM

Banks and financials dominated the topics of discussion between Jim Cramer and Erin Burnett on CNBC's "Stop Trading!" segment Tuesday. However, Cramer also offered a tech stock recommendation.

You already know some of the tech stocks he likes -- such as Apple (AAPL - Cramer's Take - Stockpickr) and Research In Motion (RIMM - Cramer's Take - Stockpickr) -- but another name Cramer likes is Salesforce.com (CRM - Cramer's Take - Stockpickr), he said.

Why? It's about Marc Benioff, the CEO of Salesforce.com. "Mark is an amazing manager," Cramer said. And while the stock's "not cheap, it shows great value for a growth stock."

Moving on to financials, when asked about City National Bank (CYN - Cramer's Take - Stockpickr), Cramer said of its CEO, Russell Goldsmith: "I love him, he's a good executive." However, as much as he believes Goldsmith's a great businessman, he does not believe it's now worthwhile to buy City National or any regional bank for that matter.

During his conversation with Burnett, Cramer stated how he absolutely disagrees with Treasury Secretary Hank Paulson that the balance sheets for financials are strong. Cramer also said he doesn't believe the Fed will cut rates, since Fed Chairman Ben Bernanke has stated his belief that financials have very strong balance sheets.

Cramer said Paulson is essentially telling people "short banks, I'm not going to help them." When Burnett joked that it sounded as if Cramer was asking for government intervention, Cramer said Bernanke should not have stated the financials are sound but instead should have offered some sort of rhetoric that the Fed would work on improving the current situation to create a strong, sound environment within the financials.

Cramer then went on to give an example of how management from financials corporations are essentially forced to tell people that their balance sheets are strong. Consider Bear Stearns. He said JPMorgan (JPM - Cramer's Take - Stockpickr) "made a bad move with the acquisition" of Bear.