Cramer's TheStreet.com TV Recap: Buys Off Bond Fervor

Investors have forgotten the power of the bond market to create good buys in stocks, Jim Cramer said on his TheStreet.com TV video Webcast Friday -- in particular, American International Group (AIG Quote).

Cramer stressed that many firms make bets on fixed income, citing Goldman Sachs (GS Quote) and Bear Stearns (BSC Quote) as two firms that are very successful in fixed income markets.

His favorite is AIG, which he labeled the cheapest of insurers. "No one's focused on AIG as just a gigantic bond holder, because they're an insurance company," he said. "This stock has moved very quietly from $65 to $72."

This is despite the fact that former CEO Hank Greenberg has been selling the stock endlessly, according to Cramer. But this selling pressure will abate when his stock runs out. ...