Skip to main content

Jim Cramer is thrilled that Ben Bernanke has been tapped to become the new

Federal Reserve

chairman "because he's not Alan Greenspan," Cramer said on his

"RealMoney" radio show Monday.

Cramer believes that Greenspan stayed too long, and it's time for someone who understands that "finance has advanced well beyond the Fed's ken under Greenspan."

Cramer is critical of Greenspan's handling of the 2000 stock market bubble and his efforts to cool the housing market. In 2000, instead of raising margin rates to prick the stock market bubble, said Cramer, Greenspan bludgeoned the entire economy by raising all interest rates, which caused "one of the worst recessions we've ever had."

This year, Cramer said, Greenspan has again used the blunt instrument of raising interest rates to cool the housing market when he simply could have cracked down on interest-only mortgage loans.

Cramer is also critical of Greenspan for staying silent on budget deficits and for "obfuscating and confusing us" with his language on the economy. Cramer believes that Bernanke will speak up about budget deficits and will use plain English to communicate.

In Monday's "Stealing Stocks" segment,

contributor Len Dykstra was bullish on

Cabot Oil & Gas


, which will report earnings Thursday. Cramer said Cabot was a "pretty inexpensive stock."

In response to a question about


(HDB) - Get Free Report

, Cramer said he was puzzled by the stock's recent selloff. But, given the recent price action, he isn't positive short term. Long term, he said, "there's nothing the matter, and that's what matters the most."

Commenting on

Texas Instruments

(TXN) - Get Free Report

, which reports earnings Monday afternoon, Cramer said the stock has sold off recently in sympathy with




That's a mistake, he said, because Broadcom reported a strong quarter, and he believes that Texas Instruments' quarter will also be strong. Cramer is looking for EPS of 40 cents and long-term gross margin of more than 50%. He believes that both Texas Instruments and Broadcom are buys.

In response to a question about options, Cramer said the vast majority of individual investors should ignore options. But, if one wants to learn more, Cramer would recommend reading the section of his book,

Jim Cramer's Real Money: Sane Investing in an Insane World

, that deals with options.

A caller asked about


(SANM) - Get Free Report

. Cramer said "I don't want anything to do with Sanmina." Cramer said a top executive had recently left the company and that overall, contract manufacturers such as Sanmina, have not delivered recently.

In response to a question about

Exxon Mobil

(XOM) - Get Free Report

, Cramer said he believes that the company will achieve his $1.39 EPS target and that he would not sell Exxon here.

Dead Money

Cramer would prefer to own

Mitsubishi UFJ Financial Group


, the best bank in Japan, he said, than the

iShares MSCI Japan Index

(EWJ) - Get Free Report



(INTC) - Get Free Report

is "too low to sell," said Cramer.

Cramer believes that


(EBAY) - Get Free Report

will be dead money for the next three months. The company is "less caught up in the greatness of the Internet," he said, than other Internet plays.

Furthermore, he feels that eBay made a mistake buying


. If the market goes up big, said Cramer, eBay could also go up. But, you're in hope mode, he said. There's "nothing cooking at eBay."

Energy Partners


is too cheap, said Cramer.

Cramer said he was hesitant to recommend any Canadian oil and gas trusts while the Canadian government is considering changing the tax posture for

Fording Canadian Coal Trust

( FDG). He fears the same thing could happen to oil and gas trusts north of the border.

He said that

American Express

(AXP) - Get Free Report

reported good earnings this morning. The selling in


( CD) is way too aggressive, he said, relative to what the company will be worth when it splits itself up.

Finally, with last week's


( RFXCQ) liquidation out of the way, the market looks and feels much better, said Cramer.

At the time of publication, Cramer was long Cendant, Fording Canadian Coal Trust and Intel.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict."