Cramer's Stop Trading! The Banks of Europe Were Reckless (6/16/11)

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Includes: AIG, JPM
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday June 16.

AIG (NYSE:AIG), JPMorgan (NYSE:JPM)

Cramer said the situation in Europe is "like AIG (AIG) all over again," because of the huge bailout that may result. While JPMorgan (JPM) has said it doesn't have as much exposure to the European banks as investors think, news from individual banks doesn't seem to matter, since they are all trading together, and they are all going down. "The banks of Europe were completely reckless," Cramer said. "There is nothing I want to touch over there."

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