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Cramer: Preventing Great Depression II

One of the things that is missing in all of the coverage is that there is a way to figure out the prices historically, and it will be done relatively quickly despite protestations to the contrary by Congress and the media.

So that's how I would work the plan for quick action. Given the knowledge and data, I think it would take no more than six months if done effectively.

That's not fast enough to free up capital, and it leaves some very big bankruptcies out there, including any company that can't roll over its commercial paper.

But keep in mind I am not thinking the plan makes stocks a buy. I am only thinking that we can take the Second Great Depression off the table. It's a low bar, but it's a realistic one.

At the time of publication, Cramer was long GS, JPM and MS.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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