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) -- "Ben Bernanke isn't a liability to the market. He's the best central banker we could ask for," Jim Cramer told the viewers of his "Mad Money" TV show Monday.

Cramer said the

Federal Reserve

chairman, who could've sent the markets in either direction today, gave a well-crafted speech that provided investors with a shopping bonanza.

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While the naysayers feared Bernanke's speech would send the markets sharply lower, it instead allowed the market to rally, said Cramer. The naysayers expected Bernanke would be worried about low inflation and the weak dollar creating artificial bubbles in commodities. Instead, he said the Fed chairman handled things "just right," saying that the economy is still too fragile to raise rates, and that the artificial bubbles simply don't exist.

"But what does this allow us to buy," asked Cramer? "Pretty much anything," he concluded. Cramer said that commodities rallied on Bernanke's words, as did the recession stocks like


(MCD) - Get Report



(MRK) - Get Report



(KMB) - Get Report


Procter & Gamble

(PG) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS.

Cramer also gave the nod to high-yielding stocks like


(MO) - Get Report

, another Action Alerts Plus name, along with

Kinder Morgan Partners




(ED) - Get Report


He said that Bernanke's remarks should also lift the recovery stocks, names like


(CAT) - Get Report



(MMM) - Get Report


Emerson Electric

(EMR) - Get Report


Cramer said unlike Fed chairs of yesteryear, Bernanke is good for stocks, and stocks can be bought ahead of any future speeches.

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A Savvy Bank

In the "Executive Decision" segment, Cramer spoke with Peyton Patterson, chairman, president and CEO of

NewAlliance Bancshares

( NAL), a regional bank Cramer last recommended on April 4 at roughly where the stock trades today. He called NewAlliance a conservative, responsible lender poised to buy failing banks at steep discounts to their true values.

Patterson said NewAlliance was able to predict the housing bubble and stopped lending at just the right time. She said that unlike larger banks, NewAlliance originates the bulk of their mortgages, and knows their borrowers, holding them to more rigid lending standards.

Patterson also explained that NewAlliance has $400 million to $500 million in excess capital on its books for acquisitions as they arise. She also noted that the company is also hard at work growing its core revenues by 13% so far this year and is investing in new lines of business to ensure growth even if good acquisitions don't arise.

Cramer continued to recommend NewAlliance, and told viewers to "pick up some now," ahead of any possible acquisitions.

Know Your IPO

In this segment, Cramer featured Cloud Peak Energy, which is set to debut this week between $16 and $18 a share and trade under the ticker "CLD." He called the the company a giant winner with fabulous fundamentals that's priced just right.

Cramer explained that Cloud Peak Energy represents the coal assets of

Rio Tinto

( RTP), a company desperate for cash after its overpriced acquisition of Alcan back in 2007. He said while Rio Tinto will still own 48% of Cloud Peak and will be issuing $600 million in debt with the offering, the IPO is still a must own.

Cramer said the Cloud Peak is a pure play on coal, and the company will become the country's premium coal producer. Most of the company's assets include the highly desirable low-sulphur coal, he said, and with China and India both hungry for U.S. coal exports, the prospects for Cloud Peak look promising for years to come.

Cramer said investors need to pounce on this IPO at $18 a share or less, but he would not be a buying of the shares in the open market.

Transparency In Demand

Cramer welcomed Noah Gottdiener, chairman and CEO of

Duff & Phelps


, to the show. Cramer last recommended Duff & Phelps on Nov. 9, when he explained that in an environment of low credibility, the company's third-party asset valuation services are in high demand.

Gottdiener said that investors have been through a rough time in recent years, and are now demanding transparency. He said whether it's valuing companies or assets, it's always best to have an independent third-party auditor. That's why the top companies, hedge funds and mutual funds use their services, he said.

Gottdiener said Duff & Phelps has also worked for the government, helping to audit the TARP securities so that the government gets a good value for the assets it is buying. He said that in bankruptcy proceedings, Duff & Phelps may be brought in by banks, creditors, the government or by any other interested constituent to help get the job done.

Cramer said that Duff & Phelps is in a great position, is too cheap and needs to be bought.

Lightning Round

Cramer was bullish on

CPFL Energia

(CPL) - Get Report


Aracruz Celulose

(ARA) - Get Report


He was bearish on

Knight Trading Group






Companhia Paranaense de Energia

(ELP) - Get Report


China Fire & Security Group

( CFSG) and

International Paper

(IP) - Get Report


-- Written by Scott Rutt in Washington

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC


Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by

clicking here.

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


At the time of publication, Cramer was long Procter & Gamble, 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."

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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.