Lightning Round: AIG, Fannie Mae, Home Depot and More

Jones Soda : Sell Jones and sell Jamba Juice and Hansen while you're at it, Cramer said.

Radian Group : Cramer believes the stock should be sold because the company can’t seem to raise the capital it needs.

Fannie Mae : It’s too hard to know Fannie’s real exposure to subprime. Plus, it’s not allowed to get the bad loans off its balance sheet. “I can’t buy it here,” Cramer said.

Global Industries : The best of breed in this sector is Transocean , according to Cramer.

Trico Marine : It’s better than Oceanerring , but Core Labs is “who you need,” Cramer said.

Compellent Technologies : Crammer called this new IPO a “mini VMware .”

Oilsands Quest : If the Canadian provinces lowered taxes on oil exploration, Cramer thinks BQI would be set up for some good pin action.

Rediff.com India : People have been calling this the next Baidu.com but Cramer remains bearish.

Countrywide Financial : Cramer still won’t recommend CFC. For investors who really want to play the group, Wells Fargo is best, he said.

AIG : Sell it, Cramer said. AIG has “way too much subprime,” making it difficult to value its portfolio. “We don’t know what the stuff is worth,” he said.

Home Depot : It’s exposed to a bad market and it’s just not as good as other retailers, even Lowe’s , according to Cramer.

Novagold Resources : If it wins a contract dispute it’s involved in, Cramer thinks NG could be a repository of an incredible amount of cheap gold.

Level 3 Communications : CEO Jim Crowe has “let us down,” Cramer said. Until Crowe agrees to come on Mad Money, LVLT will remain in the sell column.

Old National Bancorp : Until the Fed cuts another 100 basis points, Cramer doesn’t want to touch ONB. “That is one nasty looking situation,” he said.

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    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."

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