Cramer's 'Stop Trading': Bet on Bernanke
NEW YORK (
) -- Jim Cramer was stoic in his backing of Federal Reserve Chairman Ben Bernanke on Wednesday's "Stop Trading!" segment on CNBC.
"
Bernanke is not going to let us slip back into a recession," Cramer declared. Still, Cramer says many people still assume Bernanke will tighten interest rates and that he's not that bright.
Cramer does say Bernanke was late realizing the impact of subprime mortgages. However, once the recession was evident, Cramer says Bernanke everything right. "We all know the reason why we got out of the Great Depression was because of World War II," Cramer said. "We don't want something that extreme.
Cramer said he is also embarrassed by the way Treasury Secretary Timothy Geithner is being treated.
As to the unveiling of
Apple's
(AAPL) - Get Report
newest device today, Cramer said he would buy the iPad. Still, Cramer said, right now the major question is: Will
AT&T
(T) - Get Report
be able to handle the service?
"Apple as a retailer is amazing," he said. "People don't realize this is an itunes world and that's where we get our stuff. I want to get everything on iturnes that I can't get on Hulu."
Cramer owns Apple for his Charitable Trust.
-- Reported by Jeanine Poggi in New York.
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