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NEW YORK (

TheStreet

) -- "Tonight I'm here to praise Washington," an elated Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

He said that for once, Congress appears to be getting it right and will be a source of profits, instead of losses, for investors.

Cramer explained that when it comes to the prospects for financial reforms, investors have been shivering in their boots, afraid to invest in the banks while not knowing what carnage may be yet to come.

But Cramer said he's been taking a close look at the proposed financial reform bill, and where the congressional rhetoric seems to be headed, and he's deduced that this bill will be a good one.

"Congress is getting this one right," said Cramer, as the senators seem to realize that over-regulating U.S. banks will only send the competitive edge to overseas banks. Congress knows we can't let that happen, said Cramer, and that's why the new bill appears to not harm the big banks in any significant way.

Better still, Cramer said the clarity on what this bill will, and more importantly will not, do clears the way for new earnings-per-share numbers that will allow bank stocks to rocket higher.

Cramer said all of the big banks, including

JPMorgan Chase

(JPM) - Get Report

and

Bank of America

(BAC) - Get Report

, two stocks which he owns for his charitable trust,

Action Alerts PLUS, along with

Citigroup

(C) - Get Report

and even

Goldman Sachs

(GS) - Get Report

, another Action Alerts Plus name, are all poised to blast off once investors realize what's in this new bill.

"The good news is not prices into these stocks," said Cramer. And with

Federal Reserve

chairman Ben Bernanke keeping rates low, "imagine how far we can go."

Exciting Trends

In the "Executive Decision" segment, Cramer spoke with David Aldrich, president and CEO of

Skyworks Solutions

(SWKS) - Get Report

, which is up 268% since Cramer first recommended it in December, 2008 and up 20% since his last recommendation on Jan. 27.

Aldrich said Skyworks is in early stages of some pretty exciting trends. He said the demand for constant broadband access, and the proliferation of smart phones will drive his company for years to come. Aldrich explained that Skyworks' technology allows companies to reduce the size of devices, while adding battery life and reliability.

With earnings per share up 130% year over year, Aldrich said Skyworks is seeing both top and bottom line growth as it expands more into smart energy grid technologies as well as home automation and entertainment devices.

Cramer said Skyworks is executing flawlessly, and he remains a buyer.

In contrast, Cramer also noted that the once loved

Qualcomm

(QCOM) - Get Report

continues to "snatch defeat from the jaws of victory," and remains in the sell block for its utterly poor execution in an otherwise booming market.

Cramer said with his mobile Internet index up an average of 35% since its introduction on Aug 11, there's simply no excuse for Qualcomm.

Bullish Shoe Market

"It's time to revisit the bull market in shoes," Cramer told viewers, as he once again reiterated his buy on just about everything that has to do with footwear.

Cramer said the show stocks are roaring, with stocks like

Deckers Outdoor

(DECK) - Get Report

up 76% since he recommended it on Oct. 13 and

Sketchers

(SKX) - Get Report

up 33% since his March 8 call.

Others stocks are up as well, including

DSW

(DSW) - Get Report

,

Nike

(NKE) - Get Report

and

Steve Madden

(SHOO) - Get Report

.

Cramer said this run is not over, with tons of positive news still coming from the shoe makers, and show retailers alike. When

Macy's

(M) - Get Report

recently raised guidance, it cited footwear as one of only three key growth categories. Both

Kohls

(KSS) - Get Report

and

JCPenney

(JCP) - Get Report

offered similar sentiments.

And the positive news keeps coming, said Cramer, with

Finish Line

(FINL)

posting a 13 cent earnings beat,

Wolverine

(WWW) - Get Report

beating by 7 cents, and retailer

Jones New York

(JNY)

saying it saw its largest revenue increase from footwear.

Cramer said his favorite stock is Steve Madden, which reports on May 4. He said he'd be a buyer ahead of earnings, saying its earnings potential is too good to pass up. Cramer said the company, which trades at just 14 times its earnings, has $8.50 a share in cash and no debt.

Mining for Gold

Cramer once again spoke with Sean Boyd, vice-chairman and CEO of

Agnico-Eagle Mines

(AEM) - Get Report

, a stock which has continued to flounder as the company has opened five new mines in an effort to dramatically grow its production.

Boyd said Agnico is still in its ramp-up period with the new mines, which has led to the company reporting only in-line earnings, but he noted that investors will see costs declining as Agnico is still on target to produce just over one million ounces of gold in 2010, double that of 2009.

Cramer expressed concern that perhaps Agnico, now the fastest growing gold miner in the world, is growing too fast. Boyd said that with its five new mines now online, the incremental costs to expand its existing mines will be far less costly and offer lower risk and higher rates of return. He said the company's ultimate goal is to fund growth from cash flow, while returning significant value to shareholders.

Cramer said Agnico has clearly not seen its break-out quarter yet, but it is coming. He continued to recommend both Agnico and

El Dorado Gold

(EGO) - Get Report

as his favorite gold stocks.

Lightning Round

Cramer was bullish on

Energy Transfer Partners

(ETP)

,

Copano Energy

( CPNO),

Kinder Morgan Energy Partners

(KMP)

,

Hudson City Bancorp

(HCBK)

,

JPMorgan Chase

(JPM) - Get Report

,

Emergency Medical Services

( EMS) and

Dow Chemical

(DOW) - Get Report

.

He was bearish on

Dean Foods

(DF) - Get Report

and

Green Mountain Coffee Roasters

(GMCR)

.

-- Written by Scott Rutt in Washington D.C.

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 JPMorgan Chase, Bank of America, Goldman Sachs.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com 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, TheStreet.com 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 TheStreet.com, 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 TheStreet.com. 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 TheStreet.com, 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.