Cramer's 'Mad Money' Recap: Dec. 2

Finally, Cramer said there must be oversight at the SEC. He called for "real numbers" for the financial stocks and transparency into what assets they really hold and what obligations they have.

A Safe Haven

Cramer said investors who are in need of a safe place to put their money should still consider pipeline operator Energy Transfer Partners . He called the company and its tremendous 11.8% yield, "magnificent."

Energy Transfer Partners, a master limited partnership, is expected to pay out $3.76 a share in dividends next year on an estimated $6.17 a share in revenues. Cramer said while the company is in the oil and gas business, its earnings do not depend on the price of the underlying commodity. That's why he feels the ETP's dividend is safe given its earnings power.

Cramer again touched on the "Rule of 72," noting that even with no price appreciation, their money would double in just 6.1 years if they only reinvested ETP's monster dividend.

Cramer also cited other reasons to consider ETP. He said the company's last quarterly earnings were spectacular, beating estimates handedly. He also noted the company's two new pipeline projects and insider buying as other catalysts.

Cramer blamed hedge funds, who are some of ETPs largest shareholders, for much of the stock's recent declines. While he credited rival Kinder Morgan (KMP Quote) as the better company, with the higher 11.8% yield, Cramer said ETP is the way to play pipelines.

Mad Mail

In this segment, Cramer told a viewer that his recommended portfolio for children would be one share of Disney (DIS Quote) and one share of McDonald's (MCD Quote), two stocks that will teach kids what they own.

Cramer told a second viewer that he's not a fan of Vector Group (VGR Quote) and prefers Altria (MO Quote), a stock which he owns for his charitable trust Action Alerts PLUS.

Lightning Round

Cramer was bullish on DuPont (DD Quote), Google (GOOG Quote), Mechel Steel (MTL Quote) and Verizon (VZ Quote).

Cramer was bearish on Trinity Industries , The9 Limited (NCTY Quote), Eagle Materials (EXP Quote) and Cemex (CX Quote).

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