Jim Cramer's Stop Trading! 11/7/07: Cuomo Picks on WaMu

Recap of Jim Cramer’s comments on Stop Trading! Wednesday November 7. Click on a stock ticker for more analysis:

AIG (AIG) and Cisco (CSCO): Cramer would not buy AIG prior to Wednesday's earnings report because it is hard to gauge beforehand how heavy the losses are going to be. He doesn't expect the report to enlighten investors very much and added "I wouldn't touch that till it yields 4%-5%." AIG currently has a 1.3% yield. On a positive note, Cisco is "one of the 10 stocks that goes up" while the market suffers credit woes.

Fannie Mae (FNM), Freddie Mac (FRE), Washington Mutual (WM): Cramer thinks Andrew Cuomo is adding insult to injury in the housing with his subpoena of FNM and FRE concerning Washington Mutual's house-appraisal practices. He added that Cumo's actions may "shut down the market" for homes and added, "Cuomo is about confiscation."

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