Jim Cramer's Stop Trading, 12/4/07: Mortgaged Out

Recap of Jim Cramer’s comments on Stop Trading! Tuesday December 4. Click on a stock ticker for more analysis:

Toll Brothers (TOL), Bank of America (BAC): Concerning the liquidity issue, Cramer singled out CEO confidence and remarked "If they have liquidity … why are the cancellations so great? People are talking about 30% of loans ending in foreclosure." This makes loaning money a difficult prospect and he added many are unaware of the seriousness of the problem, pointing out that TOL CEO Robert Toll commented "next year we'll be worrying more about the election than we will about housing prices." Prospective homeowners wanting to buy at around the $500,000 are not being priced out, they are being "mortgaged out," said Cramer. "I wish that ... any CEO would step up and take the charge … I bet Bank of America could do it."

J.Crew (JCG): Cramer liked JCG's quarter so much, he asked CEO Mickey Drexler to autograph a conference call transcript. "That guy's my hero," said Cramer, "It was a great quarter."

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