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Mad Money Mailbag: Delete Delphi

You have nothing to gain trading this bankrupt company.

Editor's note: The following are questions received from viewers of "Mad Money," seen every day at 6 p.m. EDT on CNBC.

Should I buy Delphi (DPHIQ) ? I can't help but think this company can came back.

--

Kathy from Michigan

James J. Cramer

TheStreet Recommends

: For some reason, folks try to keep trading stocks of bankrupt companies, even though 95 times out of 100 the shares are ultimately worth nothing. I believe this will also be the case with Delphi, and that viewers are better off taking the 50 cents to their local video arcade. Not only will the money likely last longer, but you'll probably have more fun too.

You recently said on the show that accounting irregularities are a red flag to sell a stock. Does the departure of a company's CFO also fall into this category?

-- Mike from Alabama

James J. Cramer

: Most definitely, this is usually a sign that serious accounting problems are already present or could arise in the near term.