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Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday January 21.

Huntington Bancshares (NASDAQ:HBAN), Fifth Third Bancorp (NASDAQ:FITB), KeyCorp (NYSE:KEY), Regions Financial (NYSE:RF), Goldman Sachs (NYSE:GS)

Cramer applauded Representative Barney Frank's (D-Mass) call for moderation on Obama's plan to break up Wells Fargo (NYSE:WFC) and Bank of America (NYSE:BAC), the proposal to ban proprietary trading, and the prohibition against banks running hedge funds or private-equity businesses; “Any mandate to make them do it immediately would be a mistake,” Frank said, adding, “it’s got to be done over time.” (Congressman Frank gave a 3-5 year timeframe).

In any case, an immediate breakup for the big banks would degrade their assets and overhasty application of any of the proposed reforms could derail economic recovery. In response to Representative Frank's remarks, some financial stocks went higher; “Barney Frank’s going to have the last word here,” Cramer said, “not the President of the United States.”

While Fed Chairman Ben Bernanke sides with Frank, Treasury Secretary Tim Geithner's silence on this issue may be a sign of a rift with the President or that Geithner is being "a good soldier."

Cramer thinks it is ironic that the "some of the worst mortgage lenders in the world," Fifth Third Bancorp (FITB), Huntington Bancshares (HBAN), KeyCorp (KEY) and Regions Financial (RF) were up on Thursday, even though they should have been the objects of the President's ire, but weren't because they don't have hedge funds. Instead, the government is going after Goldman Sachs (GS) despite, or perhaps, because of, its success.

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Source: Cramer's Stop Trading! Barney Frank Will Have the Last Word (1/21/10)