Cramer Quick Take: Dimon Doesn't Deserve This

Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".


NEW YORK ( TheStreet) -- Bankers may be hated by the public, but JPMorgan Chase ( JPM) CEO Jamie Dimon doesn't deserve to be dragged through the mud one more time, Jim Cramer told Debra Borchardt at TheStreet.com Wednesday.

He was discussing the latest legal maneuverings surrounding the embattled investment bank.

Cramer said the federal government begged JPMorgan to buy the ailing Bear Stearns and there simply wasn't enough time to perform the due diligence to make everything perfect.

But in an election year, it's not surprising to see prosecutors going after Dimon and others as the public still feels that someone needs to pay for the financial meltdown of 2008.

Cramer said he's been harsh on Dimon at times, even though JPMorgan is a stock he owns for his charitable trust, Action Alerts PLUS , and the bank is a lot better than many of the other players out there. But in this case, he said, Dimon doesn't deserve another public flogging.

Watch the full Cramer interview here.

--Written by Scott Rutt in Washington, D.C.

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At the time of publication, Cramer's Action Alerts PLUS had a position in JPM.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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