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Cramer says Equifax data is 'the holy grail' of what 'bad guys' want

  • Jim Cramer says one would think a company such as Equifax would be more prepared for a massive data breach.
  • Equifax knows "exactly what I don't want the bad guys to get," Cramer says. "This is a company that seems to have no knowledge of what's really going on."

CNBC's Jim Cramer says one would think a company such as Equifax would be more prepared for a massive data breach.

Equifax knows "exactly what I don't want the bad guys to get," Cramer said Friday on "Squawk on the Street." "I mean is there anything more than what they have in terms of the bad guys saying, 'the holy grail. This is just the pot of honey."

On Thursday, Cramer said Equifax should fire its CEO, Richard Smith, after the fallout from the credit reporting agency's massive data breach.

CNBC had reached out to Equifax for comment.

Cramer reiterated his stance on Friday and said: "This is a company that seems to have no knowledge of what's really going on."

Sen. Elizabeth Warren said Friday she has begun an investigation into Equifax's data breach and, along with 11 other fellow Democratic senators, will introduce a bill to give consumers the ability to freeze their credit for free.

The Massachusetts senator said she was "troubled by this attack" and said the bill would stop companies like Equifax from charging consumers for freezing and unfreezing access to their credit files.

Smith is expected to testify on Oct. 3 before a House panel. This comes as nearly 40 states join a probe of the breach, which may affect as many as 143 million Americans.

The CEO apologized in an op-ed published Tuesday in USA Today and vowed the company would "make changes" to ensure it wouldn't happen again.

—Reuters contributed to this report.

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