Morgan Stanley (MS) - Get Report CEO John Mack "has a lot of credibility," said Jim Cramer on Monday's "Stop Trading!" segment on CNBC. "Mack recognizes how perilous the situation was, but you know, he pulled it out of the fire."
As for his recent comments about former
CEO John Thain, Cramer said that "only super rich people would say I'm being too hard on John Thain."
Cramer recommended that investors take another look at
, which yields 5%. "I think AFL is radically oversold," he said.
He also mentioned that Goldman Sachs has taken
off its "conviction sell" list.
At the time of publication, Cramer was long Morgan Stanley.
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. Click
here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click
here to order his book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.