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Cramer: Sanders' attack on business is unprecedented

Jim Cramer is amazed that stocks weren't down even more than they were on Thursday.

He is starting to feel like there is a war being launched on business from U.S. politicians. If it keeps up, there could be even worse days ahead.

"I think the rhetoric against business is insane. In my view, business, the creation of capital through hiring and building something is worth celebrating. I look at business as way to put food on the table … We lavish praise on sports figures, but it is not like they create any jobs," the "Mad Money" host said.

Good business people are heroes, in Cramer's eyes.

But that doesn't seem to be how politicians view business. The war on business is now clearly aimed at investing, and the rhetoric could be very damaging, Cramer said.

Democratic presidential candidate Sen. Bernie Sanders
Jessica Kourkounis | Getty Images
Democratic presidential candidate Sen. Bernie Sanders
"Sanders has launched an attack on business that is unprecedented in modern presidential politics." -Jim Cramer

First, there were the actions taken by the U.S. Treasury Department in blocking the Pfizer-Allergan deal.

Second, the Justice Department moved to block the Baker Hughes-Halliburton deal. While Cramer thought that the acquisition was blatantly anti-competitive, he still thought the Justice Department didn't bother to articulate what Baker Hughes needed to do to satisfy antitrust laws.

Third, and most unsettling to Cramer, is the surprising popularity of Bernie Sanders. Just six months ago he was viewed as a fringe candidate, but he has put up a decent challenge to Hillary Clinton's bid for the democratic nomination.

"Sanders has launched an attack on business that is unprecedented in modern presidential politics — it is like the guy is a second coming of Eugene V. Debs," Cramer said. (Tweet This)

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In an interview with the New York Daily News on Monday, Sanders said he plans to break up the big banks. Meanwhile, the government not only allowed Bank of America, Wells Fargo and JPMorgan to buy failing banks during the Great Recession; Cramer remembers that it begged them to do so.

Cramer was further surprised by Sanders' commentary on General Electric, stating that the company is "destroying the moral fabric of America" because it has become skilled at avoiding federal taxes.

"No company is perfect, and GE has had its share of faux pas, but it is hardly an example of corporate greed at its worst," Cramer said.

Cramer isn't against all government regulation of business and thinks regulation is important. It just needs to be rational and predictable, not ad hoc and out of nowhere. He thinks it is unfair that the Treasury seemingly changed the rules to inversion with no warning, when Allergan was playing by the rules.

Ultimately, Cramer thinks it is time for this administration to pull back and wait until a business does something wrong before going on the attack. Otherwise, owning stocks could become a reckless thing to do with one's money.

"I say stop the war and declare a truce so companies can do what they do best: hire, create, serve customers and generate wealth for shareholders of all shapes, sizes, colors and creeds," Cramer said.

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