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Cramer's 'Stop Trading': Toyota, Goldman

Jim Cramer said when it comes to the auto industry the winner is Ford.

NEW YORK (

TheStreet

) -- Not preempted by

Toyota

(TM) - Get Report

hearings as he has been earlier this week, Jim Cramer said on his Thursday

Stop Trading!

segment on CNBC that CEO Akio Toyoda is an honorable guy ... but it doesn't mean Cramer would buy the stock.

"He came to American and everyone wanted to beat the stuffings out of him," Cramer said. "But he is an honorable guy who just made a screw up. It backfired on those who really wanted to bring Toyota down. He is a responsible man who was horrified."

"He is the least glib executive I have ever seen," Cramer continued.

While Cramer isn't a fan of the automakers, he noted that there were some great numbers coming out of

Magna International

(MGA) - Get Report

and

TRW Automotive

(TRW)

.

But it is still

TST Recommends

Ford's

(F) - Get Report

game, Cramer said.

Shifting gears to

Goldman Sachs

(GS) - Get Report

, when it comes to accusations that Goldman Sachs helped Greece hide its debt, Cramer heatedly defends the brokerage firm.

"If they buy everything they sell would that get them off the hook?" Cramer asks. "This is how the market works; you hedge yourself. Why don't they outlaw credit default swaps so when you sell one you can't take the other side?"

Cramer cites European countries from 1917 to 1928 that played this game. "This is a long tradition of countries," he said. "France lost $500 million they couldn't find in 1928 and it was done by a derivative of some French bank."

"I am not condoning it," he continued. "I am just saying

Goldman is in a managerial position and it has to lay off its risk."

Cramer said he never remembers a situation when he was working there where they said they hated a financial instrument but were going to sell it to a client any way.

"With the scrutiny they are under they should just lose money every single day and garner support from everyone," he said. "Goldman is doing it right. What do you want me to say, that I wish I never worked there, I wish they didn't give me my start, I wish they hadn't been so great to me?"

Cramer owns Goldman Sachs for his Charitable Trust.

-- Reported by Jeanine Poggi in New York.

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