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NEW YORK ( TheStreet) -- Sprint ( S) thought it had a deal to buy Clearwire ( CLW) but Dish Network ( DISH) jumped into the fray with a higher offer. Jim Cramer told Debra Borchardt at TheStreet.com Wednesday he "did not think Clearwire could get to this point" because it was cheap stock and a company people thought would be bankrupt long ago. Clearwire is "a play on spectrum," which is obviously what Dish wants for whatever reason, Cramer said, and so it is playing a high-risk game against Sprint. But if Dish is "playing with fire," Cramer said, in the end Clearwire gets a better price. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Margo D. Beller in New York. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC