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"People are always wondering if a Democrat in the White House will be bad for Wall Street," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

With that introduction, he welcomed New York Sen. and presidential hopeful Hillary Clinton to the show to discuss a number of economic and political issues.

Cramer: Paulson Plan Is Hooey

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In response to the sub-prime mortgage crisis, Clinton advocated giving regulatory agencies such as the Securities and Exchange Commission greater enforcement powers.

Clinton also said the Federal Reserve needs additional oversight authority to navigate the "dangerous and choppy" waters of a troubled economy.

She went on to criticize the Bush Administration for not responding to the sub-prime crisis sooner. "It's a new world where we need to have more oversight and transparency," she said. "We need to have a different attitude and ask the tough questions."

Cramer asked Clinton to comment on what the federal government can do to help promote jobs. Clinton said the research and development tax credit needs to become permanent and should even be doubled to encourage investment.

She advocated stopping federal subsidies to companies that don't need it, such as the oil and gas industry, and instead directing that money to a new, strategic approach towards energy independence.

She also told Cramer that she supports increased drilling for oil and natural gas, "where appropriate."

Returning to the housing crisis, Clinton supported a plan to use the Federal Housing Administration to secure loans for low-income homeowners. She also said penalties should not be imposed on homeowners who use their 401k and retirement savings to help save their homes from foreclosure.

New King of Coal

Cramer admitted he was wrong on his Dec. 6 recommendation to sell the coal stocks in favor of other energy alternatives.

For a new perspective on the industry, he welcomed Steven Leer, chairman and CEO of

Arch Coal

(ACI) - Get Albertsons Companies Inc. Class A Report

, to the show.

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TheStreet Recommends

Leer agreed with Cramer that while ethanol has made many advancements in recent years, it is not the right fuel for the country. He reminded viewers that more than 50% of U.S. energy comes from coal and that demand for coal is on the rise as coal technology advances.

Leer said that he is not worried about having a Democrat in the White House. "Coal is the most economic choice of energy for this country," he said. "It would be impossible for the US to stop using coal."

Cramer credited Leer with being a great spokesman for his industry, saying Arch Coal is the way to play energy in the coming year. "Coal's been given new life, and Arch Coal is the play," he said.

Am I Diversified?

In this segment Cramer took calls from viewers and commented on their portfolios. The first caller's portfolio included


( CHTT),


(MO) - Get Altria Group Inc. Report


Phillip Morris

(PM) - Get Philip Morris International Inc Report



( MICC) and


(RIO) - Get Rio Tinto Plc Report


Cramer liked all of the stocks, but he advised against having both a domestic and international tobacco play in one portfolio. He advised selling Altria in favor of the new Phillip Morris International.

The second caller's top holdings included


(RAD) - Get Rite Aid Corporation Report



(AL) - Get Air Lease Corporation Class A Report



(K) - Get Kellogg Company Report






(VZ) - Get Verizon Communications Inc. Report


Cramer flagged both Kellogg and Heinz as two of a kind. He also didn't like Alcatel-Lucent. He recommended adding a financial stock and a defense contractor.

The third caller's portfolio included

BHP Billiton

(BHP) - Get BHP Group Limited American Depositary Shares (Each representing two) Report



(HAL) - Get Halliburton Company Report



(VZ) - Get Verizon Communications Inc. Report


Delta Petroleum

( DPTR) and

Korean Electric Power

(KEP) - Get Korea Electric Power Corporation Report


Cramer blessed this portfolio.

Mad Mail

In the "Mad Mail" viewer feedback segment, a viewer asked if

Medco Health Systems


will rise on news of a new partnership in Sweden. Cramer said that Medco trades on competition fears and drugs coming off of patents, not usually on its partnerships.

A second viewer asked about

Capital One

(COF) - Get Capital One Financial Corporation Report

. Cramer said that while he hates the financials, he feels Capital One will be a survivor and that its auto loan business is solid.

When a third viewer questioned Cramer's support of


(VZ) - Get Verizon Communications Inc. Report

, Cramer responded by saying that while Verizon was a dog of a stock, it's now on the mend. He said he stands behind the company's stock and its dividend.

Sudden Death

Cramer was bullish on

UnitedHealth Group

(UNH) - Get UnitedHealth Group Incorporated (DE) Report






(PBR) - Get Petroleo Brasileiro S.A.- Petrobras Report


He was bearish on


(HUM) - Get Humana Inc. Report






(DELL) - Get Dell Technologies Inc. Class C Report





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Lightning Round

Cramer was bullish on

John Deere

(DE) - Get Deere & Company Report



(WMT) - Get Walmart Inc. Report


Best BUY

(BBY) - Get Best Buy Co. Inc. Report


Focus Media

( FMCN),


(COP) - Get ConocoPhillips Report



(BP) - Get BP p.l.c. Report


Gilead Sciences

(GILD) - Get Gilead Sciences Inc. Report


Cramer was bearish on

Circuit City

(CC) - Get Chemours Company (The) Report





Akamai Technologies

(AKAM) - Get Akamai Technologies Inc. Report



(GOOG) - Get Alphabet Inc. Report


Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here


For more of Cramer's insights during the Lightning Round, click here


At the time of publication, Cramer was long ConocoPhillips and Altria.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.