“The government should be selling the stake,” Cramer continued, pointing to Washington’s 34% ownership of Citi. “They’re profitable.”
Cramer also criticized Liz Claiborne’s new exclusive deal with J.C. Penney, saying the agreement will stem losses but hurts growth over the long term.
“I would be a seller of Liz,” Cramer said.
Lastly, Cramer offered some advice to Khaldoon Khalifa Al Mubarak. The CEO and managing director of Mubadala, Abu Dhabi's major sovereign wealth fund, appeared on "Street Signs" today and discussed where his fund would invest its money. The Mad Money host recommended the fund create a holding company and buy up failing banks.
“I think it’s the best strategy on earth right now,” Cramer said.
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