Bush's proposal "slows down what's going to be a disaster," Cramer said. "This is about time. We need to slow the clock down. That's what this does."
Paulson spoke of China during his interview with Erin Burnett during "Street Signs." Cramer's favorite play on the Asian giant is Freeport-McMoRan. "There's just a remarkable metals/steel confluence that is definitely much more China driven" than U.S. driven, he said.
General Motors "might work," too, according to Cramer. A rate cut next week would help GM's mortgage and auto sales troubles, he said.
Jim's charitable trust owns Freeport-McMoRan.
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