NEW YORK (TheStreet) -- On his Friday Stop Trading! segment on CNBC, Jim Cramer says the only bank that's unscathed by the financial overhaul debate is PNC Financial (PNC) - Get Report because it's more of a "classic," bank that takes deposits; the type that Senator Blanche Lincoln likes.
Cramer said he's not negative on bank stocks as a group, per se, but just thinks that PNC doesn't have the problems the rest of these banks have.
Cramer made his recommendation following news that negotiators in both houses of Congress have completed an overhaul of banking regulations, noting that he thinks that the next big thing on the government agenda will be the card-check legislation, which would make it easier for workers to organize labor unions, which could have implications for large employers such as
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Even though shares of
stock are already getting hammered, Cramer thinks that traders are still too rosy about the stock.
"BP is on the endangered-species list," said Cramer, mentioning that lawyers he knows think "this is a great time for BP to file for Chapter 11."
Cramer believes that it's in everyone's interest for the company to survive. "The institution must be persevered," even at expense of the common stock, he said.
Cramer's Stop Trading!: Deutsche Bank, BP
-- Reported by Andrea Tse in New York
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