Jim Cramer's 'Stop Trading!': Financials' Risks

Fannie and Freddie are 'insolvent' and Lehman needs a vote of confidence from its CEO, says Cramer.
Publish date:

"Put them in the cabinet," Jim Cramer told viewers of


"Stop Trading!" segment Thursday, in reference to

Fannie Mae


Freddie Mac

. Cramer said "these companies are insolvent."

Moving on to

Lehman Brothers


, Cramer said the stock isn't going anywhere if CEO "Dick Fuld doesn't come in and buy a million shares as a vote of confidence."

Cramer said Lehman lost him as soon as they fired its CFO Erin Callan. "You can't put her out in public like they did and then throw her out," Cramer said. He believes Fuld has to step up and keep buying.

Commenting on today's trading, Cramer said that the current market is a really tough one and "everyone is trying to call the bottom in financials," but this is just not the way to go.

At the time of publication, Cramer had no positions in stocks mentioned.

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