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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday August 13. Click on a stock ticker for more analysis:

Thornburg Mortgage (TMA), Washington Mutual (NYSE:WM), Lehman Brothers (LEH), KB Home (NYSE:KBH), Beazer Homes USA (NYSE:BZH), Procter & Gamble (NYSE:PG), Coca-Cola (NYSE:KO), and Colgate (NYSE:CL)

Cramer predicts around 7 million "teaser" mortgages are likely to be defaulted and recommends "staying defensive," by avoiding real estate and bank stocks such as TMA, WM, LEH, KBH and BZH and investing in soft goods such as PG, KO and CL. While the Fed thinks mortgage woes will pass, Cramer still believes the Fed should cut rates.

Schering-Plough (SGP)

Cramer thinks SGP is an excellent stock for the current environment and notes sales are up 13% since last year. He adds the company is not leveged to mortgaes and he believes in Fred Hassan, who was one of Cramer's transformational CEOs. He would wait until buying SGP, and while the current economic climate is not good, "we have no control on what the Fed will do," Cramer said.

Vodafone (NASDAQ:VOD),Verizon Wireless (NYSE:VZ)

VOD is a good international play and the world's best wireless carrier. Cramer thinks VOD will raise more revenues than the competition, owns a "serious chunk" of VZ, is successful in emerging economies and has a strong dividend.

CEO Interview: Jack Cumming, Hologic (NASDAQ:HOLX) with Cytyc (CYTC)

Jack Cumming talked about the upcoming merger with CYTC, which will mean $400 million to $50o million in EBITDA and nine top women's health products. Cumming added the company can afford the acquisition and there is no financial risk.

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Source: Jim Cramer's Mad Money In-Depth Stock Picks, 8/13/07