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Cramer: Alphabet on the other hand, a 30 times earnings, represents a bargain that now that search advertising and [weimo 00:31:18] economist driving businesses are all taking off. But yes, it is true that the company didn't put forward a top gun to be drawn and quartered in front of Congress. Arguably, a mistake, and it's a big powerful company that Congress wants to show it can control or reign in. That's what this is all about.

Jim Cramer: That said, it has done the most of any company to clean things up ethically. Remember when everybody was supposed to be leaving them when YouTube, because their stuff was up against the wrong kind of stuff? Well that's, you never hear about that anymore, right? It's hard to imagine any company doing more than they are doing, and my friends that work very, very hard to try to get it right, and I know this is about money, not about friends, but you have to trust me on some things, that my friends are doing their best.

Jim Cramer: Now I am not sure that it matters that they're moving into China, something Congress doesn't want either. But since everyone else is in China, except Alphabet, I don't know what's the point of trying to block them. What matters is that the consumer package goods companies keep migrating from television and radio and magazines and newspapers, to the web. And the issues with Facebook are pushing advertisers toward Google. You can't get better than that. Alphabet is my second favorite stock in the portfolio, because of all these irons in the fire.

In the September Action Alerts PLUS members' call, Jim Cramer talked about why Alphabet (GOOGL - Get Report)  is a bargain now.

"Search, advertising and Waymo, its autonomous driving business, are all taking off, he said.

Watch now to hear more about why he likes the stock and listen to his thoughts on the fact that Google (GOOG - Get Report)  did not send any executives to the Congressional hearings.

Do you want more exclusive investing insight from Cramer? Get 24/7 access to Jim's charitable-trust portfolio with a free trial to Action Alerts PLUS! You can also watch all of Jim Cramer's New York Stock Exchange live shows on YouTube.