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

(JOYG)

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.

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