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Cramer's 'Mad Money' Follow-Up: Wells Fargo

Jim Cramer said that the bank's earnings beat was a game-changer.

On Thursday's "Mad Money" show, Jim Cramer said that Wells Fargo's (WFC) - Get Wells Fargo & Company Report earnings beat is a game-changer, demonstrating there are massive profits to be made in banking. He also said the earnings beat is indicative of a housing bottom.

Cramer was also bullish on

JPMorgan

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

and

Bank of America

(BAC) - Get Bank of America Corp Report

.

On Monday, Wells Fargo closed up 6 cents, or 0.3%, at $19.67, while JPMorgan added 95 cents, or 2.9%, to $33.70, and BofA added $1.47, or 15.4%, to $11.02.

News that

qualifying insurers will be eligible for TARP

prompted Cramer to release a few insurers from his "Sell Block," including

Principal Financial

(PFG) - Get Principal Financial Group, Inc. Report

,

Prudential

(PRU) - Get Prudential Financial, Inc. Report

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,

Lincoln National

(LNC) - Get Lincoln National Corporation (LNC) Report

and

Hartford Group

(HIG) - Get Hartford Financial Services Group, Inc. (HIG) Report

. While he didn't want to own any of them yet, he said they were no longer toxic and that TARP will solve a lot of their problems.

On Monday, Principal closed up 50 cents, or 3.5%, at $14.97, Prudential closed up $1.47, or 5.4%, at $28.97, Lincoln added 16 cents, or 1.5%, to close at $10.24, and Hartford was up 76 cents, or 7%, at $11.56.

At the time of publication, Cramer was long Wells Fargo and JPMorgan.

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