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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday March 24.

Cramer Strikes Back: Fannie Mae (FNM), Freddie Mack (FRE)

After his critics fired at him with clips of calls that missed the mark, Cramer has compiled his own sampling of statements he made warning viewers about impending "financial Armageddon." Cramer played a few clips proving that he spoke about potential bank failures and urged investors to prepare for the problems ahead. Cramer gives credit to his sources, who have been in the business for many years and saw the crisis coming. However, the same sources see an upturn coming soon and recommend buying stocks.

Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C)

The hedge funds and shorts which were bringing down the financial sector may now find themselves pouring money into bank stocks. With Geithner's plan to buy back toxic assets and Bernanke pledging that he will not allow another bank to go under, there is renewed confidence in financials. Cramer would buy Morgan Stanley, Goldman Sachs, JP Morgan, Bank of America, Wells Fargo and Citigroup now that financials are back in favor.
Procter & Gamble (NYSE:PG)

The only ones who love Procter & Gamble are consumers loyal to the company's brands, but that will soon change. Sales were down 5% the last quarter because of the strong dollar. Since the company has strong international exposure, the weakening dollar will most likely mean more overseas sales. While PG was forced to pass higher commodity and energy costs on to the consumer, lower raw costs will now benefit the company. Five out of the 10 best-selling brands in the U.S. were Procter & Gamble brands, and the company is not losing out to private label competition. While the 3.4% dividend is not huge, the fact that the company raised it is a sign of confidence. Cramer sees an eventual upside for Procter & Gamble, but until then, the dividend pays off while waiting.

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Source: Cramer's Mad Money - Cramer Strikes Back (3/24/09)