Stop Trading!: Thain Is Good for Merrill

Wednesday, 14 Nov 2007 | 7:33 PM ET

John Thain is a no-nonsense guy who will make Merrill Lynch whole again, Cramer said during Stop Trading!. On Wednesday, Merrill named the NYSE Euronext CEO as a replacement for Stanely O'Neal.

The job was originally offered to BlackRock CEO Larry Fink, but apparently he said he would take the reins only if Merrill did a full accounting of its subprime exposure.

Stop Trading!
Mad Money host Jim Cramer shares his stock picks as well as his thoughts on the reported new head of Merrill, John Thain, with CNBC's Erin Burnett.

Still, Cramer was happy with Merrill's move. "It'll be a better Merrill under Thain," he said.

Taking over for Thain at NYSE Euronext is Chief Operating Officer Duncan Niederauer. Cramer called him a cost cutter who learned a lot from his departing boss.

"I think he's ready," Cramer said. "Duncan will do a great job."

Cramer reiterated his call that NYX was a great weak-dollar play because two-thirds of the exchanges income comes from Europe.

Jim's charitable trust owns NYX.

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