Bernand Madoff is "just an awful guy. He really is. He's just the Grinch," said Jim Cramer on CNBC's "Stop Trading!" segment on Wednesday. "It's tragic, but it's unfortunately not a capital crime."

As for the financial crisis, Cramer said that "the one thing I really want to see are some private sector solutions." For example, he asked, why aren't good insurers able to buy bad insurers? "We need to see the private sector throughtout," he said.

"You know what? We've got to take what we can get. It's better than nothing," Cramer said.

He recommended

Joy Global


as "a great Obama play." The company recently bought back a "tremendous amount of stock."

"There's a lot of reasons to think that Joy Global is going to do OK," he said. "Not great, but not horrible."

At the time of publication, Cramer had no positions in stocks mentioned.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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

clicking here. 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