Cramer's Stop Trading! - Sheila Bair: Stop Sticking Pins into Vikram Pandit (8/13/09)

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday August 13.

Bank of America (BAC), Regions Financial (RF), Citigroup (C), Wal-Mart (WMT), JC Penney (JCP)

Everyone is talking about John Paulson's big stake in Bank of America, but Cramer would pay more attention to his stake in Regions Financial. Paulson, who made a bundle shorting mortgages early in the credit crisis, has purchased 35 million shares in Regions, which is a "living breathing mortgage."

Cramer thinks FDIC Chairwoman Sheila Bair should resist the temptation to be too hard on Citigroup CEO Vikram Pandit; "She has a Pandit doll and she sticks pins in it all day." He thinks the government should go easy on Citigroup, especially since it is "up big" on its investment.

Wal-Mart reported a better-than-expected quarter on back-to-school sales, and Cramer predicts solid results from JC Penney.

Cramer predicted a pullback on Thursday, but that did not happen; "It is amazing how strong the market is," he commented.

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