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Jim Cramer told viewers on his "Mad Money" TV show Wednesday that Treasury Secretary Henry Paulson is doing a terrible job of selling the bailout plan.

Instead of speaking in plain English, Paulson has made his sales pitch much more difficult to comprehend by using Wall Street rehetoric.

Cramer said that the Paulson plan should be called "Invest In America" and not be referred to as a "bailout" of Wall Street. He said the plan is about keeping people in their homes and banks having the money to lend so that kids can go to college. "It's about cash in the ATM machine," he said, and keeping the problems of Wall Street from spilling over onto Main Street.

Cramer said he's mystified that a plan that is designed to avert economic disaster and possibly turn a profit for taxpayers, could be so hated. He said the financial markets revolve around credit and confidence, two things that totally disappeared last week.

Cramer made his point very clear, saying without this plan, unemployment could skyrocket to 20% to 30%. This is not about saving Wall Street executive salaries, he said, "this affects you." He told viewers they need to stop looking at the plan as a bailout and start looking at the facts.

Cramer advocates doing whatever it takes to get the Paulson plan passed and passed quickly.

Spicy Stock

In his hunt for stocks that can survive even the worst of economic times, Cramer recommended spice-maker




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Cramer's thesis for McCormick is simple: In hard, uncertain economic times, McCormick's spices sell well because people eat out less and cook more at home. The company commands 50% of the herb, spice and marinade market in the U.S. and France and 40% of the market in the UK.

Cramer likened McCormick to his earlier recommendation of private-label food maker


( RAH). With fewer people buying luxury foods and instead opting for store brands, the demand for spices and sauces can only increase. A recent study indicated that 37% of consumer mentioned price as the No. factor influencing their food buying decisions, ahead of even location.

Cramer said McCormick is also a play on healthier eating. The company is currently promoting the many health benefits of its spices and other products In addition, Cramer called the company very shareholder friendly, with a 2.3% dividend yield and $49 million left in its share repurchase program.

"Bad markets send good stocks down," Cramer told viewers. However, he said he would only be a buyer of McCormick if it reports a better-than-expected quarter this week. If the company misses the estimates, Cramer told viewers to take a pass as the markets will surely send shares tumbling.

Staying a Step Ahead

Cramer welcomed Dan Deinst, CEO of

Sims Metal Management


, to the show for another take on the health of the economy outside of Wall Street.

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Deinst said that while the scrap metal business is, has been and always will be a volatile one, his company is still thriving. He said the world has never seen a business like Sims Metal before and his company is providing real leadership in trying economic times.

Deinst said that while smaller competitors are now choking on falling steel prices, Sims has been able to use its size to both foresee and capitalize on falling commodity prices. He said Sims has been able to lock in lower prices and continues to benefit from the sustainability of its business model.

Cramer said Sims is another example of a "real world" company thriving outside of the financial chaos.

Am I Diversified?

Cramer spoke with callers and evaluated their portfolios. The first caller told Cramer he had these stocks in his portfolio:




Johnson Controls






Trinity Industries




( DNA).

Cramer said that Eaton, Johnson Controls and Trinity are three of a kind in the industrial space, calling the portfolio far too concentrated in that area. He recommended adding a defense stock and a consumer stock. He also said to sell Genentech and not get caught up in the takeover bid.

The second caller's top holdings included
















Cramer said this portfolio was also too concentrated, only this time in household appliances, with Whirlpool and Masco. He recommended selling Whirlpool and replacing it with a food or beverage stock.

The third caller's portfolio included




Johnson & Johnson






Duke Energy



Spectra Energy


as their top five stocks.

Cramer identified Duke and Spectra as two of a kind and recommended swapping Safeway in favor of



. He also said that Boeing, which is in the thick of labor troubles, needed to be sold.

The final caller's portfolio included

AK Steel















Cramer flagged Schlumberger and Apache as two oil stocks, noting Schlumberger should be replaced by a defense stock.

Lightning Round

Cramer was bullish on

Research In Motion

( RIMM),




Sociedad Quimica



Exco Resources



Ultra Petroleum



Equitable Resources



America Movil



Nordic American Tanker









He was bearish on

Ford Motor



Gushan Energy

( GU),

James River Coal



Diana Shipping



NYSE Group



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At the time of publication, Cramer was not long on any stock.

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.