If negotiations fall apart, "A handful of companies may view any significant market decline as a buying opportunity," Cramer said.
Because their businesses are strong enough to withstand fall out from the debt debacle, a sell-off may actually be greeted by management with enthusiasm.
That is, managements that have already implemented buybacks may view a Washington-induced sell-off as an opportunity to buy back even more.
Which companies may pounce if stocks swoon? Cramer has identified 7 possibilities. They follow:
"When everyone was scared to death about the gaming business, what did GameStop do? They paid down debt and bought back about a third of the company," Cramer said. That was when the viability of the company was called into question.
Considering now it's widely believed the new video game cycle will benefit GameStop significantly, Cramer sees every reason for the company to scoop up more shares in the event they become significantly cheaper.
"Viacom had 716 million shares outstanding just before the start of the Great Recession," Cramer said. "Now it has 491 million shares. This company loves to buy back stock. I bet Sumner Redstone's Viacom will be bidding for every share that comes in during the impending crisis."