Mad Money

Has California’s Economy Bottomed?

Banking on Cali?

Back in April, Cramer made yet another bold call when he told viewers to buy the turn in California. The state has been wracked with budget problems, sure, and a terrible housing market at that, but he saw signs that the state was on the verge of a rebound. Well, last Thursday he got confirmation that he was right.

City National, the California business bank that is Cramer’s favorite play on the state, during its conference call pointed to early indications of renewed loan demand and increased business confidence. And management said, “Here in California there’s a growing sense that the economy has bottomed out."

CYN’s quarter and management’s comments “tell us you should be checking into the stock hotel California,” Cramer said, “not checking out."

But what are the areas of improvement that investors should watch to make sure this story stays intact? For that answer, Cramer went to City National CEO and President Russell Goldsmith. Watch the video for the full interview.

Call Cramer: 1-800-743-CNBC

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