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the option to name your price -- new and only from progressive. call or click today. i'm jim cramer. welcome to my world. you need to get in the game! he's nuts. they're nuts. they know nothing. i always like to say there's a bull market somewhere. "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i could care less. my job is not just to entertain but educate, so call me. 1-800-743-cnbc. in jpmorgan we trust. that's how i feel after this stupendous quarter at this phenomenal bank announced today. i just don't say that because my

charitable trust owns the stock. but you know what? it seems like everywhere you look on tv, the web, the paper, they're talking about the coming big spike in foreclosures. about the impending disaster home equity loans, credit cards, commercial real estate. about how things are getting worse and worse and worse for the consumer and there's no end in sight. no light at the end of the tunnel except, of course, an oncoming train. it's all hysterics and negativity. then today, jpmorgan comes out -- pretty simple -- says the worst is behind us. it's behind us when it comes to a whole host of loans and charge-offs for individuals, including residential real estate. huh? what? i thought jamie diamond, the

company's great ceo, was a smart guy. apparently he doesn't even read the newspaper. according to him, things are definitely not getting worse. and given that jpmorgan bought washington mutual, the uncontested worst lender on earth, yes, even worse than the golden west portion with all its pick or don't pay loans of wachovia, i'm more inclined to believe him than anything in the paper. i'm more inclined to believe jpmorgan than jamie diamond. i think you have to listen to jpmorgan. i think we have to believe them. but are we? i listen to media all day. the pundits. doesn't seem like anyone is given any credence to what jamie is saying or what this great bank is telling you. i think it's a big mistake.

i know it's a mistake because i've been around for a long time. this is one of the very, very few cases on earth where it's genuinely beneficial to be around for a long time. i've seen it all before. including a situation just like this one. 1991. i want to give you the benefit of my experience without having to spend decades actually accruing it. because i think if most of the people who are in the media and many of the people who are trading remember what happened 18 years ago in 1991, they would be a whole lot more willing to believe in jamie diamond and jpmorgan. so what happened back then? in 1991, we kept hearing that things were getting worse and worse, step by step, inch by inch, slowly mortgages fell. each month was more negative than the previous one. you couldn't pick up the paper without wanting to hurl. i know i spent most of 1990 down here.

i mean, i was -- i was afraid. i was afraid to come out from under my desk because it was that scary. what started in texas spread to california. it was like a santa ana wind to new york city with panic everywhere and headline after headline about the coming real estate tsunami. sound familiar? then one day, wells fargo said the problems were winding down. just like that. wells fargo said the worst was behind us, just like jpmorgan said today. of course, everyone i knew figured that they were just lying their darn fool heads off. i mean, who the heck was wells fargo anyway? a stagecoach company? a john ford movie? so what that was the dominant lender in california at the time. just ignore them. being promotional in order to stay afloat, fool the regulators. obviously they didn't beat the

paper because if they did, they would have known exactly how horrible everything was. you know what? you know what happened in 1991? even if the short sellers told everyone that wells fargo was lying, it was like shooting fish in a barrel to stay out of the stock, and the group, the whole group, they wanted to short. it turned out that wells fargo was dead. dead right. and we were all wrong to question its credibility. the gathering commercial real estate storm, it had already happened. it had already gone off the coast. the worst was truly over. did anyone listen? did anyone listen to wells? oh, yeah. warren buffett. he accumulated a huge stake, buying in from the shorts mostly. because in wells he trusted. he made billions of dollars. that's the lens from which you have to view what jpmorgan is saying right now. i suggest you listen to this morning's call, but i don't you won't. it was really good. listen to the conference call.

they ought to put some jokes in and laugh tracks so that people will tune in. this is practically the same situation in 1991. i made the mistake, by the way, of not believing wells fargo then. i got wise in time. i heard crown prince was going to buy the citigroup stake. but you don't want you to repeat that mistake by not believing jpmorgan now. i know it's hard to believe the worst is over. but trust me, or at least trust my experience and knowledge of history if you're one of those people that i, too, i am a total huckster who is hazardous to your wealth, a buffoon that roubini called me. oh, he went out positive today. genius. the people who are saying that things are getting worse, the people who say that jpmorgan are wrong, i question their judgment. just think about it. who does it make more sense to believe? the headline writers who -- i was a headline writer. don't worry about it. don't take it personally.

who for all you know were not even in high school in 1991 and hadn't been through puberty? or someone who traded through that period, recognizes the similarities, has learned from his mistakes, and had hair then. i know it's easy to stay negative. everybody sounds more credible when they're negative. more responsible. if they talk about what can go wrong, you look prudent. but sometimes things do get better. i'm saying that things will be better for all the banks because as jamie diamond made clear, other than the regionals that are going to get hurt in commercial real estate, something we knew already, things are getting better. it's not just they're stabilizing. not that they're no longer getting worse. things are getting better. here's the bottom line. i believe this is 1991 all over again. the only difference is that it's jpmorgan's playing the role of the old stagecoach john ford movie wells fargo. this time around, it is the one that's telling us the worst is

over. in 1991, we didn't have any point of comparison. history to let us know that wells fargo was telling the truth, but this time we do. i think jpmorgan has it right. the worst is behind us in real estate and things are looking brighter for the banks and for that matter the whole market. as we saw from still one more incredibly fabulous rally that we had all day. may i go to jim in connecticut, please. jim? >> boo-yah. hey, jim. how are you? >> i'll give you an uconn boo-yah. what's up? >> caller: i got a

question for you, jim. >> fire away, chief. >> caller: all right.

are bank stocks a good long-term play considering they're being propped up by our government and their costs are going to go up? >> steve, you sound like one of them congressmen that was talking today. that's an impressive lot, those guys. jim, don't do that. your mom will get mad at you. okay, listen. you know what? let's talk about goldman sachs. i do genuinely believe that not everybody is ripping off the government, that the government did well in t.a.r.p. i have a solution later on that i'll give you. what do we want? do we want -- here's a question. do we want every bank to be citigroup? is that what we want? we want to punish them? we want to put them in a corner, make them wear a dunce hat, give them detention. no, it's okay that companies make money. i had a lot of things i was going to say about citigroup but i have to be diplomatic. roger? >> caller: boo-yah. >> the whole state of wisconsin is going to be angry with me. >> caller: i am roger in northern minnesota. i was calling with a question about small-cap speculation.

i've been reading your book "real money" and you speak of small-cap speculation. i was just curious, what can we use to determine long-term and short-term how you want to determine if you should hold it for long-term or short-term and -- >> i have the answer. roger, listen to me. the one thing we never want to do here, we never want to confuse the fundamentals with the time frame. i don't care if you -- if you bought it when goldman sachs downgraded and it just got 113, the bank does not ask you if you sell 100 shares of that and make $1,300. wait a second. did you do that overnight? no. they say thank you very much and put it in your account. the fundamentals change, that's when we do selling. okay, listen. i was there in 1991. as a matter of fact, at the time i was 40. when wells fargo said the worst was over, well, it was over. 18 years later, jpmorgan is saying the worst is over. who are going to believe? are you going to believe them or are you going to believe the lying eyes of the media complex? "mad money" will be right back.

coming up, they report, cramer decides. jim takes on the ceo of xilinx. is this a sinking ship or a tech buyer. which names belong in the cell block? sell block? the time has come for cramer to guide you through the markets' up and downs. stock after stock on the "lightning round." coming up on "mad money." ♪ on this endless ocean

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let me tell you why you have to watch when we bring ceos on the show.

even though might not be as exciting as watching me wave a white flag around with jordin sparks playing in the background. ♪ or, of course, making pyramids. but take a look at the move that ppg made today. yeah, the boring chemical company. back on june 11th, i interviewed ppg's ceo. this guy has never been on tv. i had this ceo on. he told a positive tale. so i recommended the stock and told people if i were them, i'd sell all the other chemical companies based on this one interview. i then said that to every single person who ever asked me about a chemical country in the lightning round. today i reported a great quarter and it's up $3.80 or 8.4%, one of today's biggest gainers. that's the value off interviews add. you can measure it in cold, hard cash now. i want to talk about another stock. i have done the homework.

there is an issue that only a ceo can help us resolve. i'm talking about xilinx, the semiconductor i recommended on march 17th. it's basically give or take -- let's get the -- okay. it's up about 90 cents from when i did that. the semis have been on fire, though. the stock shot up yesterday in the wake of intel's blow-out quarter. then xilinx reported its own earnings and the stock is selling off. i want to know what's going on here. why is xilinx feeling like a house of pain while the rest of the semis like tj rogers are in total -- >> house of pleasure. >> xilinx announced positively earlier in the month. when it beat by two cents, that wasn't much of a surprise. the real problem seems to have been with the company's guidance. even though xilinx had better revenue than expected, than expected -- how much xilinx makes for sales. it also said that wireless and

consumers were the only markets that grew. and while the company participated in the chinese wireless bonanza with asia taking over xilinx, it couldn't participate as much as it wanted to. the problem? xilinx has a new chip that's used in communications, but there were production issues. the semi conductor was making it unprepared for the quick ramp-up in production. that said, we should see, i believe, higher shipments in the communications and wireless market in the current quarter now that these problems, i believe, are in the past. perhaps the real issue here is one of expectations. got ahead of themselves. as this stock rocketed higher off intel's great quarter, even though there wasn't necessarily much pin action for xilinx, that set the company up for failure when it reported. after all, intel is a tough act to follow. let's get a better picture of what's going on to see if we should stick with xilinx or not.

let's talk to the ceo. i'm thrilled he came on. when the stock opened down, i said, oh, boy, most people come on the show. you have to own up. i would have loved the stock to have been up three or four today and it wasn't. welcome to "mad money." >> hi, jim. it's a pleasure to be on the show. >> all right. i think your quarter was a good one and that you have a high-quality problem, which is that you couldn't make the good-enough chips fast enough. is that a correct depiction of what happened? >> that absolutely is the case. we had some supply issues that had we not had them, we would have nailed the quarter and actually probably hit just above the midpoint of our guidance. >> okay. >> so -- >> one of the things -- >> it's a problem that's behind us. >> one of the things that people don't understand, and i happen to have gone to many intel plants and i had the great privilege of going to the intel plant in israel where they explained to me that it's very difficult to make complex chips and you have to throw away a lot. i didn't understand that.

not everything is perfect. could you explain to our viewers how there could be a glitch. we think of a factory and they're turning out cars or washing machines. it's conceivable that there could be a problem. >> well, we're really in a very, very different business to that of intel. intel generates -- it's an excellent company, generates lots of chips for a very specific market. what we do is we actually enable our customers to program the chips and to provide differentiation to their products and as such, our products -- we service 20,000 customers and we enable each and every one of those customers to come out with a differentiated product, hence our manufacturing infrastructure is very different than the one that a large semiconductor company like intel has. >> it's tougher. okay, now, this was on the conference call today, which was a tough call, frankly, i thought. this is from john olson.

john olson says in terms of our -- cfo. in terms of our vertical market, sales from all major end market categories declined. all. communications sales decreased 2% representing 49% of sales. industrial and other end markets declined as expected. why do i want to own a stock where all major end markets declined? >> well, you need to look at where xilinx is going, what we enable our customers to do, and we have a very, very broad volume of products. we have tens of thousands of customers. we have just launched our new generation of technology. we're seeing more and more customers move to differentiate the products based on programable devices. and xilinx is the number one company in the programable space.

and basically we have 50% market share and there is a transition which is happening in the industry which we call the programable imperative, which is moving more and more customers from using standard semiconductors to differentiated semiconductors like xilinx has. >> now, in the conference call you made it very clear that asia has become a big driver. what would your market have looked like 10 years ago or 20 years ago versus now? what's the breakdown difference? >> well, in the past, most of our business was in north america, primarily targeted at wyatt communications customers. that's still a very important market to us. but over the past ten years since you traded, we really have diversified a lot. and not only do we provide to a whole gamut of infrastructure, but we actually enabled a whole host of new applications, be the

wireless applications, be the consumer, military and aerospace. so today both the diversification in terms of markets, it was much more than it was ten years ago. we're a very broad company. tens of thousands of customers. and business is an international business, which spans across all continents. >> excellent. thank you so much for coming on the show. appreciate it. >> thank you. >> okay. had they not had the manufacturing glitch, i think they would have blown away the quarter. i think the world is getting better. so therefore, the next quarter is better. if you bought this because of me, i want you to stick with xilinx. it's a solid company. i think the end markets are getting better, not worse. the glitch is solved. you heard the man. i say xilinx. it's a keeper. stay with "mad money." coming up, which names

belong in the sell block? cramer separates the stocks that could power down from the ones that could connect you to some mad money. plus, try to keep up with cramer as he takes your calls rapid fire in an all-new lightning round. some big banks are paying back bail-out cash. the eureka moment. announcer: what's your cialis moment?

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i spent half the show last night wearing a necklace, talking about the strength of the incredible mobile internet tsunami, how smartphone makers are working. here comes nokia this morning, reporting a dismal quarter and saying that the global mobile industry will contract 10% this year.

nokia talking about the competition is intense. talking about the market bottoming out. just bottoming out? well, on this show we've been saying it's rampant or at least that the smartphone side is ramping hard. so what is it? should we be worried because nokia reported a real bow-wow of a quarter? what's finish for bow-wow? maybe it's universal. should we get worried about apple, which reports next week and which i've said over and over will be huge because of its iphone and its notebooks. nokia is the number one handset maker worldwide. they're incredible, right? isn't this the kind of stock that should make us presume that i am dead wrong. nokia is a dominant player. should i not be shaking in my boots right now? wrong.

nokia doesn't have the products people want. it said competition was intense. translation? we're being pantsed because companies like apple are eating our lunch. they didn't use the word pantsed because it's not really a finnish word, but trust me. you don't take your marching orders from an inferior company like nokia. that just blew up. you put it in the sell block. nokia is not going to tell you its disappointing quarter is a result of being a disappointing company. no. it's much easier to blame the stars. blame weaker global economies for its problems. but you have to understand that these are just excuses. forget about nokia. no call to worship with nokia. not with this one. it's no different from when dell, another company that's

going straight into the sell block, give that dismal update on monday. oh, what did dell do? dell did what every crybaby i've ever met did. it blamed its problems on the higher component costs, a competitive pricing environment, weak demand from the enterprise customers. but is this the dell -- is this dell really the kind of company you want to extrapolate from? the company is not going to tell you it has the wrong products, wrong execution, wrong vision. so it blames the stars. that's a reference, of course, to the bard. i mean shaix -- shakespeare, not the company. just like nokia. of course, if you took your cue from dell, you would have missed out on yesterday's incredible intel-driven tech rally. dell, nokia. peas in a pod. i think it's going to have a tremendous quarter. but you can look at what nokia is saying about the mobile phone climate and what dell is saying about the pc climate and figure that things are pretty bad for apple. if dell says it's raining and nokia says it's raining, doesn't that mean it's raining all over apple, too? no.

let me tell you what i think is going to happen when apple reports next week. this is based on 30 years of trading experience. in my opinion as a grizzled veteran of the markets, we'll hear that things are bright and sunny where apple is sitting. steve jobs may be given the forecast on the call. because while dell and nokia may say it's raining, it must only be raining on their side of the street. and if you believe dell and nokia, you will feel like an idiot, like anyone who bet against intel because of dell said that -- because dell said pcs are slow. let me save you the trouble and the pain of making that mistake. i've seen this happen over and over and over again where an inferior company screws up and blames its problems on the business it's in rather than taking responsibility, rather than owning it. the truth here is that apple has simply crushed nokia in the smart phone market and everyone, including apple, smacking dell like joe lewis took down max

smellen in that second go around. apple has got the products that people want. dell and nokia don't. and that's not just because i had to wait for ten minutes to get a salesperson at my apple store last week while almost all the other stores in the short hills mall slash bowling alley were empty. and winning in tech is all about having the right products. don't turn the excuses dell and nokia are giving in into something more significant. and don't believe that the mobile internet tsunami is be stopped. how am i so sure that apple's crushing them? how i am so sure that the smart phone revolution is proceeding as scheduled? nokia gave us the evidence itself. on its call, the number of smart phones nokia sold increased by 23%, 23%. compared to an 11% increase in total units, which is lower because you have to back out the smart phones. even at nokia, which doesn't have the smart products like

apple or rimm, the smart phone business is a whole lot stronger than the mobile handset business as a whole. so even nokia's numbers show a strong smart phone market and the only phones apple sells are smartphones. those are some of the smartest around. if you want to look for a takeaway from nokia's quarter, forget their jabbering about weak demand and focus on the smartphone numbers, which tell me that the thesis is really on track. and you need some apple ahead of the quarter. nokia? apple. we put dell and nokia in the sell block because their excuses might mislead you. into thinking that stronger companies aren't doing so well.

as long as we're sticking people in the sell block, i got to toss this guy in from goldman sachs. i always say nice things about goldman sachs. let me be an equal opportunity destroyer. this guy said buy tech. but the stock advice, as my one -- my youngest daughter when she was 5 used to say, ouchie. ibm reported a monster quarter tonight. it's up 13%. you would have missed this tremendous rally. oh, man, that is awful. finland, i don't know. america, i don't know. but in cramerica, that's a criminal offense. if not a capital crime. we do not have the eighth amendment in the cramerican constitution. bottom line, when a company tells you that it is raining, you can be sure it is only rain og their side of the street. just like everyone in prison claims, of course, that they're innocent. every company in the cell block blames its problems on

industrywide weakness. i've seen the dna. they're guilty. it's not true. and i think apple will prove it when they report next tuesday. jim in illinois. jim? >> caller: hey jim! a big, wonderful, big boo-yah from beautiful millennium park in downtown chicago. >> i'm liking that. i think our president is a chi sox fan. >> caller: my question is about adc communications. some time ago it was suggested as a buy and although it hasn't done much yet, i'm thinking with all this 3-g development in china and asia in general and with the announcement this morning about the deployment of adc's interreach fusion in chicago's upscale heinz office building on lasalle street, is this a good time to add on to the position? >> man, you got horse sense. you're absolutely right. buy, buy, buy the stock. adc telecom is one that i recommend along with amd. you've got a winner. i want you to accumulate more stock.

congratulations. now i want to go clear to texas. i want to go to tony in texas. tony? >> caller: jim, what an honor. i want to throw out the biggest, fattest donkey boo-yah to you. i'm invested in an memc. i feel they are two great markets to dip from. their stocks go -- what a lot of people don't know is that they provide a higher-quality polysilicon. with that being said, what is your opinion on how that will affect what companies are looking for in the future? >> i don't want you to touch wfr. what i want you to do is go out and buy amd. amd is the play. i want you to think about it. i want you to think about namd. think about sandisk.

let's go to russell, also in texas. rustle. >> caller: this is russell from waco, texas. >> russell, you had me fooled. >> caller: my question is about the newly discovered product grasine. it's a very hard, durable material that seems to be on the rise for technology and electrical storage. any plays on that you can think of that would get me ahead of the curve? >> like -- like the shamwow? i'm just kidding. actually, you know what, that's a joke. that's an info mercial joke. that's a joke. i don't know it. i don't know it. that's why i told the joke to take the pressure off while i was trying to think, do i know it. i don't. we'll do an analysis. we'll have an answer next week for russell. okay? just cut it out, right?

you can slice that out. dell and nokia are in the sell block. they may be at the dark end of the street, but apple is at the bright side of the road. van morrison rocks. we'll just cut that thing out. you promise? okay. stay with cramer. coming up, an all new "lightning round." when you're really in pain

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it is time. it is time for the lightning round. you say the name of the stock i tell you whether or not to buy, buy, buy. my staff prepares the graphics on the fly. are you ready? it is time for the lightning round. it is time for the lightning round. i am starting with scott in ohio. >> caller: boo-yah, jim. wilmington, ohio. thanks for taking my call. i read your book earlier this year. like it said, i did my homework and picked a stock called novan pharmaceuticals. >> you got a take-over, didn't you? >> caller: yes, sir. that's what i'm talking about. it's been hovering on decent valium for a couple of days. what do you do when an offer has been made to buy-out a company? >> you sell, sell, sell. i do not want you to give back that gain. sell it tomorrow morning. do not mess with me. i know what i'm doing.

let's go to james in california. james. >> caller: jim! a big boo-yah from southern california. how are you doing, man? >> good regional boo-yah back to you. what's on your mind? >> caller: thank you very much for your great insight on aig. you said drop that limp stock. >> yeah. that thing was a lizard, man. that thing was a monster. go ahead. >> caller: yes. quick question. energy stocks have taken a big hit. what do you think? >> aci just had a big run. well, yes. i mean, year over year. i don't know. i mean, maybe because i read the papers, i'm thinking that coal is not president obama's favorite fuel. i could be wrong. actually, i'm completely right. my friend dave peltier took massey energy. i want you to be right. be a sell, sell, seller of coal. i'm still endorsing peabody because the communist chinese are not as air quality conscious as we are.

how about george in virginia? george. >> caller: hello, jim! >> george! what's up? long time, no talk. >> caller: yeah! a big mount vernon boo-yah from -- >> mount vernon. isn't that like the guy -- which one is that? it's the -- >> caller: right outsider of d.c. >> no, man, i thought it was like on a bill. go ahead. what's up? what's up? >> caller: okay. i'm going to ask you about hh gregg. the symbol is hgg. >> i don't know it. i don't know hh gregg. oh, this is great. i didn't know grasine, i didn't know what shamwow was and now i don't know this one. this is three for three. this has really turned into a youtube thing. what can i do? i can't make it up. all right. let's go to alexander in ohio. alexander?

>> caller: yeah, jim. a big boo-yah from spring valley, ohio. >> spring valley. how spring is my valley, partner? >> caller: well, jim, just a little village right out of the twilight zone, jim. it's close to dayton, ohio. >> i saw that episode. i love it. i love that one. >> caller: jim, well, our big pastime is just sitting on the front porch is reading the graffiti on the abandoned buildings. but anyway, we're close to dayton, ohio. the stock is ncr which is uprooting itself and going to georgia for all of these big tax benefits. is that a good stock to buy? >> i saw that. dayton, that's a big employer in dayton. that was really some move by my friend bill moody. i do not like the end markets of ncr. i am not going to recommend buying it. that stock has really gotten hammered.

ever since my buddy left that company. let's go to mike in iowa. mike. >> caller: jim. boo-yah to you from the hawkeye state. >> and who went to the hawkeye state and had an unbelievably good time? "mad money" did. >> caller: we know how to do it here, come back soon. i'm calling about dry ships. last thursday, it was given a great upgrade. friday they announced the acquisition of their spin-off company going into the oil business and the last couple of days, 30 million shares have traded hands before noon. what are your thoughts? >> it trades like a banshee, but i've got to tell you -- remember that movie? right here, right now, you want to buy nat. i am not deviating. i remain a buyer of -- no. i'm a buyer of north american tanker. they're making a move. let's go to andrew in new york. i'm ignoring the buzzer. >> caller: hi, cramer.

how are you? >> oh, man. i'm doing great. how about you? >> caller: not too bad. how about gci. >> i was -- let me tell you. i thought that quarter -- that was really something. they put it together. i am not in a million years going to -- i wish them the best of luck. i think you have a 50% move. let's go to don in massachusetts to wrap up today's lightning round. don. >> caller: hello j.c.! boo-yah to you from western mass. >> i was going to give you a youkilis boo-yah, but they probably don't know him out there. >> caller: this is the biggest rivalry red sox rivalry area in the world. >> well, then you got it. i'm thrilled to have you on the phone. what's up? >> caller: what do you think of ups?

you were talking about cxs the other day. >> you know i like ups, don. come on. i like ups and i like fedex. and fedex was a major break-out today. i think ups is a great company. i want to stick with ups and i want you to stick with cramer! bull market or bear, traders are always hungry for ideas. they find them at td ameritrade. trading's all about strategy. and strategy's... all about information. so: i start my trading day... with td ameritrade's morning perspective. that's interesting... or, look at this... i can mine their weekly webcast for ideas. this is what i need. of course, ideas are just the start. so now i can drill down. heat mapping... heat mapping shows me where the money's moving. 2,500 stocks... one quick glance. cold... cold. hot! right there. look at this: pattern matcher... pattern matcher spots technical patterns, automatically. wow, look at that. look at that head and shoulders right there. it's like pattern radar. pattern x-ray vision.

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today, i didn't have a eureka moment. i borrowed one from two rip roaring smart guys that live in our town. from dave and matt, boston honchos who came up with the first intelligent answer to a problem everyone, including congress today regards as intractable. it's not. listen to this. the problem, when the banks took t.a.r.p. money last fall, they also gave the government equity warrants, a derivative that allows the government to purchase a certain amount of shares above the stock. now that bank after bank is repaying t.a.r.p., nobody knows how to value these warrants. it's creating a huge political problem. nobody knows what it's worth.

either the banks underpay and rip off the taxpayers or they overpay. they were probably worth more than 15 bucks and we got ripped off. today, even jamie dimon, the great cpo of jpmorgan doesn't know how it will be resolved and he thinks that it will result in prices that are too punitive. that is where bunting and hare come in. they wrote and article posted in street.com where i'm chairman. it's on the front page and worth reading and suggested a solution to this problem simple and elegant and i might say brilliant. they want the treasury or fed acting as the treasury agent to hold public auctions for the warrant, just like treasuries. lettet market decide what they are worth.

and no one will be ripped off and the taxpayer won't end up getting stiffed. there's no way for wall street to game this kind of auction whereas you know they know how to lean on politicians and bureaucracy to keep the prices they want if we keep going down this current course. i think bunting and hair solution should be the topic of the day. it's the only way to go and i fully endorse it and not because brett always seems have a better seat than i do at the summit diner. as bunting and hair pount -- pointed out in the article, the treasury already sells tons, tens of billions of bonds every week. it's not like it doesn't know how to run a good clean auction, let everybody bid on the warrants, the crowd as well as at the banks trying to retire them and if the banks don't like the prices someone other than the government can buy them and trade in public markets until they expire. that's the eureka moment if there ever was.

a public auction is the best way for taxpayers to get a decent return. no complaints from congress or public about giveaways. this is a new crusade for us. call your congressman and tell them to lean on the treasury to auction off the warrants unless you want wall street to get away with more free hand-outs, someone tell your congressman and maybe we can at least get something done that cuts our taxes and makes money for the government. welcome to the now network. currently, thousands of people

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there's always a bull market somewhere and i promise to find it just for you on "mad money." i'm jim cramer and i'll see you tomorrow. (announcer) if you think all batteries are the same, consider this: when a tornado tore through holly, colorado, air life denver took to the air... their night-vision goggles keeping them safe on a perilous flight... and powering those precision goggles--- is the only battery air life trusts: duracell. trusted everywhere.