'Mad Money Lightning Round': Bank of America Downgraded

Stock quotes in this article: RFMD , TLAB , CIEN , PBCT , FLEX , DECK , RVBD , JPM  

To see the full "Mad Money" Recap, please click here.

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Tuesday evening.

Bank of America (BAC Quote): "I've had to downgrade this stock because they need to get a CEO and pay back TARP. They need to get serious over there."

RF Micro Devices (RFMD Quote): "This company is way too cheap, as is Tellabs (TLAB Quote) and CIENA (CIEN Quote) trading so cheap that it is a gross miscarriage of justice."

People's Bank (PBCT Quote): "This stock rocks. Their acquisition was brilliant. This is the most conservative bank in America and they should be celebrated."

Flextronics (FLEX Quote): "This is another mystery. People are selling it off and they should be buying it. Business is good."

Deckers Outdoor (DECK Quote): "Footwear is having an unbelievable holiday season. I'd stay in Decker's."

KKR Financial Holdings (KFN Quote): "I don't share your enthusiasm. I really don't know what they own. It's too hard for me. "

Riverbed Technologies (RVBD Quote): "I've historically liked the company. I'll stick with it even though it's expensive based on its earnings."

JPMorgan Chase (JPM Quote): "Another miscarriage of justice. How can people nOT buy this stock. This is one of the cheapest stocks in the world!"

-- Written by Scott Rutt in Washington

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To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

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At the time of publication, Cramer was long Bank of America, JPMorgan Chase.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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