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RealMoney Radio: Citi Lite

Cramer says that Citigroup has underperformed every other 'major financial institution out there.'

When a chief executive is in trouble, a disgruntled member of the company's board will likely leak it to the media, Jim Cramer said on his

"RealMoney" radio show Thursday.

But this is not happening at


(C) - Get Citigroup Inc. Report

with CEO Chuck Prince, he said.

"Citi is as fat and as happy as I have ever seen it, with the executives perfectly oblivious to the fact that this financial has underperformed every other major financial institution out there," he said.

Although there's a lot of talk that the company needs to be broken up, it's probably because the bank has done nothing, Cramer went on to say.

"I believe that breakup calls make sense, but not until you have someone at the helm who can make a difference," he said, adding he would prefer to have a CEO who understands how to make the business work before the company is broken up.

Because Prince saved the company from being shut down by Elliot Spitzer, Citi shareholders seem "brain dead and happy."

It looks like he will be there for life, Cramer said, urging listeners to sell Citi and buy something else.

Moving on,


(PFE) - Get Pfizer Inc. Report

is ramping today because it came out and said it is having a "giant upside surprise." But this is not true, Cramer said.

In fact, the company has fired a lot of people and is in a moment in time where it is trying to "create an upside surprise by lowering its bar," he said.

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"Pfizer is a challenged company," Cramer said, adding that there are a lot of drug stocks worth owning more, such as


(MRK) - Get Merck & Co., Inc. Report



(NVS) - Get Novartis AG Report


(GSK) - Get GlaxoSmithKline Plc Report




, the last of which he owns for his charitable trust,

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At the time of publication, Cramer was long Schering-Plough.

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