Comcast announced Friday it's scrapping its $45 billion merger agreement with Time Warner Cable. TheStreet's Jim Cramer says the FCC and the Department of Justice got this one wrong. The Department of Justice, and more importantly, the FCC basically said this is an anti-competitive deal. Cramer's response is, was it anti competitive to have United merge with Continental? How about the U.S. Air deal? The airline deals were just ridiculous, he says. So it's surprising that they would be against this one. Also, Cramer points out that both Google and Facebook want to be in TV. Those are the companies that people at the FCC and Justice Department should've been thinking about. Cramer says obviously the FCC is looking at a snapshot at what the world looks like in 2015. In 2018 we'll be laughing that they didn't let this deal happen, he says.

More from Video

Video: Don't Underestimate China's Strength in a Trade War

Video: Don't Underestimate China's Strength in a Trade War

5 Investing Podcasts Perfect For Your Beach Weekend

5 Investing Podcasts Perfect For Your Beach Weekend

Menswear Designer Joseph Abboud: From a Boston Suit Factory to Wall Street

Menswear Designer Joseph Abboud: From a Boston Suit Factory to Wall Street

Podcast: Why Trump Doesn't Want a Soft Brexit

Podcast: Why Trump Doesn't Want a Soft Brexit

Jim Cramer Reacts to Bank Earnings: JPMorgan, Citigroup, Wells Fargo and PNC

Jim Cramer Reacts to Bank Earnings: JPMorgan, Citigroup, Wells Fargo and PNC