Jim Cramer's Best Blogs

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I-Banks Would Be Great Pickups Here

Originally published on Thursday, Sept. 18, at 3:09 p.m. EDT

We love the commercial banks too much, and we hate the investment banks -- or at least the last two -- too much.

I have been a huge supporter of the commercial banks -- the fortress four: U.S. Bank (USB Quote) and Wells Fargo (WFC Quote) and Bank of America (BAC Quote) and JPMorgan (JPM Quote) -- and I added BB&T (BBT Quote) and Wachovia (WB Quote) recently, but I do not want to sugar-coat things.

We need investment banks, and if I were a JPM or a WFC or a WB, I would now be buying one of these two -- Goldman Sachs (GS Quote) or Morgan Stanley (MS Quote). If I were Bob Steel, I would be buying either one of these here.

If you can use deposit money, which you now can, to do some of the institutional trading support that can be very lucrative, you would do it. I think Goldman's book, which is right here, is for real.

I do not know who is behind the selling, but I have to point out that Goldman has no home equity or car loans or any of the other subprime nonsense that a Wachovia has, but nobody seems to care.

Also, last week the talk was that Goldman might buy Wachovia ... now it could be the other way around!

At the time of publication, Cramer was long JPMorgan and Goldman Sachs.