chief Chuck Prince must go, Jim Cramer said Wednesday on CNBC's Stop Trading! segment.
Cramer said the fact that
Bank of America
has now lapped Citi in market capitalization points up Prince's shortcomings as a banker. Cramer applauded Prince's progress on the regulatory front but said the bank has been floundering operationally.
Asked to compare the two names, Cramer said he would buy Bank of America because "it is a stock." He said Citi, given Prince's failure to take decisive action, is basically a bond. Cramer said Citi would jump 10% were Prince to leave.
Cramer also called
the "buy of the century" at a recent $90, saying he believes its iPhone device will capture the lucrative ring-tone market. "Buy the heck out of Apple," he counseled.
At the time of publication, Cramer had no position in stocks mentioned.
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