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Sep.14
3:51 PM ET

President Obama on Monday promised Wall Street increased regulation as a way to prevent a repeat of last year’s credit crisis, urging the crowd at Federal Hall to “learn the lessons of Lehman” Brothers’ collapse. Two banks in particular would feel the brunt of stricter rules, Cramer said during Stop Trading!, if the president got his way.

Wells Fargo [WFC  Loading...      ()   ], because of its “huge percentage” of the mortgage market, could be the most susceptible, Cramer said, with JPMorgan Chase [JPM  Loading...      ()   ] a close second. Still, both stocks went up during Obama’s speech, indicating that these institutions were “in compliance.” Obama should have praised these do-gooders, the Mad Money host continued, and at the same time called out the banks that helped to cause the crisis.

“He has to give us the villains,” Cramer said, “and he can cheer the heroes.”

Overall, President Obama “should have been more positive,” Cramer said, by cheerleading the jobs well done by Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke and the Justice Department, for its inquiry into AIG and Lehman Brothers.

“The president was not on message,” Cramer said. “He was too downbeat.”

Considering the changes over the 12 months since Lehman went under, Cramer said the big takeaway was that “our banking system did not collapse.” Geithner’s bank stress tests turned out to be “realistic,” despite criticisms from pundits and the press, and the consumer – whether in regards to housing, retail or auto – “is much stronger than I would have thought.” While there are still “pockets of weakness,” the turn in both the markets and the economy can’t be denied.

“This system turned out to be stronger,” Cramer said, adding, “The business is coming back.”

Cramer's charitable trust owns JPMorgan Chase and Wells Fargo.

Call Cramer: 1-800-743-CNBC

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