CNBC's Jim Cramer: Obama is "not going to favor the banks over the struggling homeowners."

[sabra]

http://www.thestreet.com/story/10457421/1/cramers-stop-trading-obama-tackles-tarp.html?cm_ven=GOOGLEN

"When you vote for the Democrats, they're not going to favor capital over labor," said Jim Cramer on Monday's "Stop Trading!" segment on CNBC. "They're not going to favor the banks over the struggling homeowners."

President-elect Obama asked President Bush today to notify Congress on his behalf that he plans to request release of the remaining TARP funds. Also, Lawrence Summers, incoming economic adviser to Obama, said in a letter to leaders in Congress that the Obama administration will seek increased "transparency and accountability" from recipients of TARP money.

"This is a line in the sand," said Cramer. He said Obama is saying, "We're going to help the people being foreclosed and not the people doing the foreclosing."

[closeupready]

1. Bullcrap.

Editing to say, Cramer is full of bullcrap, but I hope he is correct.

[firedupdem]

2. Finally, a President who gets it!

"We're going to help the people being foreclosed and not the people doing the foreclosing."

Although that's not a direct quote from Obama, I believe this is exactly how he will handle the issue. We finally have a voice in the white house.

[dionysus]

3. awesome.

"This is a line in the sand," said Cramer. He said Obama is saying, "We're going to help the people being foreclosed and not the people doing the foreclosing."

you wouldn't know it the way peopel here are overreacting lately.

[YOY]

4. I hope he is right but doubt it.

n.t.

[mrs_p]

5. was he red-faced, screaming at the top of his lungs?

[Political_Junkie]

6. Hope he's right.

Too late for me, but I do hope Obama will help the homeowners who are still hanging on.

[BeyondGeography]

7. Good...that's where the votes are

The foreclosed vote more than the foreclosers.

[Democrats_win]

8. I thought that was unconstitutional.

Kidding.