Cramer's Stop Trading! Blanche Lincoln's Relief Bill for Deutsche Bank (6/24/10)

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Includes: BP, C, CS, DB
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday June 24.

BP (NYSE:BP), Deutsche Bank (NYSE:DB), Credit Suisse (NYSE:CS), Citigroup (NYSE:C)

Cramer doesn't think BP (BP) is a buy, even at 29% any more than Citigroup (C) was a buy at the depth of the recession. "I like Citigroup now," said Cramer, "but it made a pit stop at $2 first." He explained that we can't really comprehend the extent of the damage; "It is ugly...it's hitting the beach. It's like D-Day."

"Today is going to be the day." Financial reform is reaching its finale, and Cramer cautioned that if Blanche Lincoln's reforms are passed and if American banks have to spin off their derivatives-trading operations, the result will be a "Deutsche Bank (DB) relief bill" or a stimulus for Credit Suisse (CS).

"If I were starting all over again, I would go to Deutsche Bank or Credit Suisse, because investment banking for them will be rocking."

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