"Maybe this is the end of the monster expensive buybacks," said Jim Cramer on Thursday's "Stop Trading!" segment on CNBC.

He used

General Electric

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, which he owns for his

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charitable trust, as an example. "Here's a company that has bought back stock for years and years and years, and the buyback did nothing," he said. "They canceled the buyback, and the stock goes up. I'm telling you that corporate America is going to re-evaluate buybacks."

KB Home

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"is the quickest way to make money off" the government bailout plan, Cramer said, other than banks.

He said the principal beneficiary of the package will be the area that's been hardest-hit: California. KB Home is a "good company, obviously in a terrible industry," with a good balance sheet and a safe dividend, he said.

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Another idea he offered up was

CPFL Energia

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, which has a 7% yield. "I'm willing to actually go to a Latin American stock here," he said, explaining that that area's been so hard-hit that the stock could bounce. He cautioned that he's not ready, though, to endorse


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At the time of publication, Cramer was long General Electric.

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

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