Cramer's 'Stop Trading!': Goldman Sachs

On his Thursday Stop Trading! segment on CNBC, Jim Cramer says that even though he is drawing a lot of criticism for not being critical enough of Goldman Sachs chief executive Lloyd Blankfein, he just can't, because 'the facts don't let me' put him down.

Author:
Andrea Tse
Publish date:
Apr 22, 2010 3:56 PM EDT

NEW YORK (TheStreet) -- On his Thursday Stop Trading! segment on CNBC, Jim Cramer said that even though he is drawing significant criticism for not being critical enough of Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report chief executive Lloyd Blankfein, he just can't, because "the facts don't let me" put him down.

This is not the time to defend Goldman Sachs," Cramer acknowledged. In fact, right now "pro" and "Goldman" simply can't go next to each other, he said.

Still, even as Goldman Sachs comes under fire for allegedly defrauding investors, Cramer continues to respect Blankfein as "the greatest manager of risk of all time" and wonders if he's just a little bit misunderstood.

Blankfein, he said, is an "inside guy ... he's the wrong guy for the moment." Cramer noted that Blankfein is, for that reason, a liability with regards to testimony, unlike Jamie Dimon and Vikram Pandit, who might be better as public personas.

Case in point: Blankfein once legendarily told a reporter that he was just a banker "doing God's work" -- a statement that has ever since sparked both outrage and mockery.

-- Reported by Andrea Tse in New York

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