GO
Loading...

Stop Trading!

Wednesday, 22 Aug 2007 | 3:49 PM ET

Cramer recommends buying Lehman Brothers now that it is shutting down its subprime mortgage unit BNC Mortgage, he said on Stop Trading! today.

Stop Trading!
Mad Money host Jim Cramer shares his stock picks with CNBC's Erin Burnett

"You have to understand that when a company like Lehman takes this action it's bullish," he said. "[BNC] wasn't making them any money. They take the charge and they move on."

Shareholders of banks like Bank of America , Wells Fargo and Washington Mutual , which haven't been making money in the mortgage market, should clean up now that so many other lenders are closing down, Cramer said.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

  Price   Change %Change
BAC
---
WFC
---
WM
---

Contact Mad Money

  • Showtimes

    Monday - Friday 6p ET
  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.