‘This’ makes Cramer want to scream!

No Huddle Offense: 5 years since Lehman

(Click for video linked to a searchable transcript of this Mad Money segment)

If Cramer hears this from one more person, "I will be tempted to rip their lungs out," he said.

The Mad Money host is sick and tired of people saying that nothing's changed since Lehman collapsed.

He finds that style of commentary to be uniformed. "The idea that nothing's been done to improve the situation is something I find outrageous," said Cramer with disdain.

Instead of lamenting the sad state of affairs, Cramer thinks it's much more appropriate to note the major changes that have been implemented since the pivotal event.

Dimitri Otis | Photographer's Choice | Getty Images

"First, our banks have been forced to raise a level of capital that's extraordinary," Cramer said. In other words, banks have significantly greater reserves with which they can endure unexpected challenges.

"Second, things are much less opaque then they were," Cramer added. Therefore the market can price bank stocks more accurately.

"Third, capital is still being raised," Cramer explained. "Plus, banks don't keep many mortgages on the books at all. They sell them to . So bad mortgage loans won't come back to haunt them." In other words, the genesis of the financial crisis – bad home loans – shouldn't pose broad threats to the system going forward.

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All told, the Mad Money host believes these changes are significant – and they allow investors to buy and sell related stocks with a large degree of clarity.

"I think that and Ben Bernanke performed magnificently," Cramer said referring to the oversight implemented in the five years since Lehman went under. "As far as I can tell, the banks are better for it and stronger too."

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