Breathing room. That's another way to look at it. We need to have some marriages right now. Citigroup (C) - Get Report should buy Washington Mutual (WM) - Get Report. We need Wachovia (WB) - Get Report to combine with someone. We need Wells Fargo (WFC) - Get Report to step up and be the big guy.

I do not believe that these banks are ready for this moment, but they can work fast and get together, knowing that they will be able to separate their institutions into good banks and bad banks and have a place to go.

Possible mergers: Wachovia should merge with

Morgan Stanley

(MS) - Get Report

-- let's stop fooling around. Citigroup should buy Washington Mutual.

JPMorgan Chase

(JPM) - Get Report

should take advantage of this and go in and buy, buy

Goldman

(GS) - Get Report

. Yes, that's what should happen.

Bank of America

(BAC) - Get Report

should keep rolling things up.

Breathing room matters. We need it. We are getting it.

There are banks who want to remain independent.

That's foolish.

Time to get married.

At the time of publication, Cramer was long Goldman Sachs, JPMorgan Chase and Morgan Stanley.

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