Cramer's Mad Dash: Wells Fargo

Jim Cramer (Host of Mad Money) 00:03.210

get ready we've got seven minutes before the final bell for the week i'm thinking man we're getting close to the final bell for the year

David Faber (Financial Journalist and Co-anchor) 00:11.290

something i know it happened but we got a mad dash talk a little wells fargo

Jim Cramer (Host of Mad Money) 00:15.730

something we talked about earlier this week there's a change in wells fargo this was a bank that we said they were around the table the kitchen table now they're around the table the deal table david you have said over and over again you've seen the names of the people who work

Jim Cramer (Host of Mad Money) 00:32.870

at wells and they're not wells people they're from everywhere that a lot of these people are people who i think weren't able to become CEO at their companies because the CEO himself would never retire so

David Faber (Financial Journalist and Co-anchor) 00:45.870

i made this point to i think it was last this week or last about when we were talking about wells they have brought in a very senior layer of deal makers overtime and it's

Jim Cramer (Host of Mad Money) 00:54.510

working various areas and it's working they're number seven now in the league table so netflix david

David Faber (Financial Journalist and Co-anchor) 00:59.310

you told me now i did largest single commitment made to an investment grade company almost thirty billion dollars from the bridge facility from wells fargo they also have been advising on a number of the other just by the way they're not goldman or morgan stanley yet they're

David Faber (Financial Journalist and Co-anchor) 01:12.350

just a little bit above center view a far far smaller firm sure what's private but but it can it can move the needle because the margins are so high in investment

Jim Cramer (Host of Mad Money) 01:22.190

it takes two people to do a deal and it takes two hundred people to do it an IPO david one thing i would point out charlie scharf many people know is just one of the nicest people and he's a regular person and that's attractive to the people who are leaving the master of the

Jim Cramer (Host of Mad Money) 01:39.390

universe firm to go to someone who just so you like this you've liked it all along you continue to i've had one shouting match with charlie i feel badly about i want to take it back charlie i apologize because i said why aren't you buying more stock back and he said we're buying

Jim Cramer (Host of Mad Money) 01:54.190

back plenty well the fact is they bought back so much they bought back everything they could and remember the whole time he had the salary cap on him but meanwhile

David Faber (Financial Journalist and Co-anchor) 02:03.790

you know what it has underperformed a lot of the other names i'm just saying JP morgan 's up more cities up more goldman 's up more thank you

Jim Cramer (Host of Mad Money) 02:16.030

oh that's so i'm wrong yeah that's wrong that's that's

David Faber (Financial Journalist and Co-anchor) 02:18.550

that's how many years is that you're wrong how many that's five

Jim Cramer (Host of Mad Money) 02:21.230

years trillion now for the trillion one year it's worth a trillion i don't like to be wrong i've got eight thirty i've got eight thirty in the back i checked right either front i've got eight ninety i'm right

David Faber (Financial Journalist and Co-anchor) 02:30.750

one trillion dollars i'm right alright

Jim Cramer (Host of Mad Money) 02:34.630

all right i have goldman too much apple trust

David Faber (Financial Journalist and Co-anchor) 02:37.630

yeah you got everything i

Jim Cramer (Host of Mad Money) 02:38.870

was voting the most the most most likely to become a TV crazy person the most identifiable person who worked in goldman sachs

David Faber (Financial Journalist and Co-anchor) 02:48.430

you are yeah yes

Jim Cramer (Host of Mad Money) 02:50.270

how about that what are you what does lloyd blankfein have to say about that

David Faber (Financial Journalist and Co-anchor) 02:53.910

don't bring that up it's got a new book coming out does

Jim Cramer (Host of Mad Money) 02:56.230

he really yeah he does the things you learn here