"This is really a Franklin Delano Roosevelt moment," Jim Cramer said on Wednesday's "Stop Trading!" segment on CNBC. "We're only fearing fear itself."
He encouraged viewers to consider several potential factors that could be positive influences on the market, including the coordination of worldwide interest cuts, huge Chinese stimulus plans, a waiving of the private equity rules and the
waving of rules on buybacks.
"I am only trying to bring out things that could go right, because I've heard all day what could go wrong," he said.
Cramer, who owns
charitable trust, stood behind the two financial companies. "I tell you that September calls on these positions will be rewarded for very little capital," he said.
At the time of publication, Cramer was long Goldman Sachs and Morgan Stanley.
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