Cramer's 'Mad Money' Recap: What Obama Should Have Said (Final)

Cramer says the president should have used his White House address to ask for help from a group of retired oil executives. He also said Obama should have embraced natural gas as the best alternative to oil.
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NEW YORK (

TheStreet

) -- "While President Obama deserves a lot of credit for his handling of the oil spill, he should look at the problem like an investor," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday, as he outlined what he would've said in last night's address to the nation.

Cramer said Obama has done a lot of the right things, and said a lot of the right things last night, such as forcing

BP

(BP) - Get Report

to post a bond for its liabilities, calling the disaster an "ecological nightmare," and vowing to fix the corrupt bureaucracy. But he said, Obama could have gone a step further.

Cramer said he would've started with an apology, saying that he's sorry for trusting BP. He said the government should have known that the spill was a lot larger than BP initially led on. Cramer said if the well was indeed spewing 5,000 barrels a day, as BP claimed, that would've meant BP was only making $200,000 a day in revenue, hardly worth their while given the cost, and risks, of a rig that size.

Cramer said he would've first put in a call to Andrew Gould, CEO of

Schlumberger

(SLB) - Get Report

, a company with the experience needed to properly assess the problem. He would've also immediately assembled a panel of retired oil execs, who would've known that a "top kill" approach won't work at pressures that high.

Finally, Cramer said he would have concluded his speech with a more realistic energy policy. Windmills, he said, just aren't going to cut it. He said the country needs a transition fuel like natural gas. Natural gas is cleaner, cheaper and the infrastructure to produce and distribute it is already here. Best of all, he said we're sitting on the world's largest supply of it.

Cramer said natural gas is the only fuel that can help us bridge the gap to renewable energy, and while we work towards that goal, natural gas creates jobs, creates a cleaner environment, and helps us towards energy independence.

Market Reform

Cramer spoke with Senator Ted Kaufman (D., Del.) about his efforts to reform the markets to avoid incidents like the "flash crash" on May 6.

Kaufman said the May 6th incident was not the only one. He said there have been other "bungee jumps," where stock prices dive then recover, or spike then recover.

He cited the stock of

Diebold

(DBD) - Get Report

, which on June 2 plunged 35% in six seconds, or the stock of the

Washington Post

(WPO)

, which just today inexplicably doubled before returning to normal.

Kaufman said the problem lies in high-frequency trading, which in the last four years has blossomed from 30% to 80% of the markets' overall trading. He said this high volume, non-transparent and unregulated market must be looked into before America loses its credibility with investors.

Kaufman said the two things that make America great are its democracy and capital markets. Withh investors already believing the markets are not a level playing field, this problem will lead to "a death of a thousand cuts," if it's not addressed immediately, he said.

Cramer agreed with Kaufman's assessments and commended him for his work at meaningful market reforms.

Staying Focused

In the "Executive Decision" segment, Cramer spoke with Jason Rhode, president and CEO of

Cirrus Logic

(CRUS) - Get Report

, which is riding high on the mobile Internet tsunami.

Rhode attributed his company's success to "focus." He explained Cirrus traditionally has had a hard time weeding through the hundreds of great ideas their brilliant engineers come up with, but lately the company has stayed focused on doing just a few things really well.

Rhode also said the company's "fabless" model allows the Cirrus to choose the best technology for each chip it designs, rather than being stuck with a single factory or production method.

When asked about the company's exposure to the smart power grid, Rhode said that power meters have been a great business for the company, and thanks to President Obama's endorsement of smart energy, the business is really taking off.

Rhode also noted the company's exposure to the car audio market, where Cirrus makes power amplifiers that help make you car sound even better.

Cramer said Cirrus is one company that continues to deliver results. He said at $15 a share, the stock isn't done going higher.

Solid Fundamentals

Cramer spoke with Jen-Hsun Huang, co-founder, president and CEO of graphics chip maker

Nvidia

(NVDA) - Get Report

,for yet another read on the much hated technology sector.

Huang admitted that the market is very antsy over concerns for Europe, and that the entire technology sector is trading horribly at the moment, but, he said, "this time will pass," as the fundamentals at Nvidia are terrific. He said the company continues to focus on the three-pronged approach, including visual computing, parallel computing and mobile computing.

Huang explained that Nvidia has high performance chips for mobile applications, and while

Apple

(AAPL) - Get Report

is able to build all of their own chips for the iPad and iPhone, most other companies can't, which is why Nvidia exists.

Circling back to the European issue, Huang said there are concerns over demand and exchange rates in Europe, but again, he sees multiple growth drivers at the company, including consumer, enterprise and even supercomputing, all of which are stronger than the weakness in Europe.

Cramer said if you back out the $3 a share in cash Nvidia has, it's an $8 stock, and that is just way too cheap for what you're getting.

Lightning Round

Cramer was bullish on

Amdocs

(DOX) - Get Report

,

People's Bank

(PBCT) - Get Report

,

Verizon

(VZ) - Get Report

and

Vodafone Group

(VOD) - Get Report

.

He was bearish on

Goldman Sachs

(GS) - Get Report

and

First Solar

(FSLR) - Get Report

.

-- 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 not long any stock mentioned.

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