"The president changed everything today," Jim Cramer said on
's "Stop Trading!" segment on Friday.
Making sense out of the large swings in
, Cramer said someone had gotten to President Bush and insisted he change his tune.
According to Cramer, the president initially wanted to get rid of these companies, but today Bush essentially said that "these institutions must be preserved." Cramer said the president had been the "jackboot on these" and that "these stocks should no longer be going down."
Emphasizing his point numerous times over the course of the "Stop Trading!" segment, Cramer repeated that "these stocks should not be going down anymore." The president, Cramer said, made it very clear that he'd changed his position on these companies, which he used to consider his enemies.
At the time of publication, Cramer had no positions in stocks mentioned.
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