Jim Cramer: Wall Street Wants Christie for President

Thursday, 12 Aug 2010 12:44 PM

By David A. Patten

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CNBC "Mad Money" host Jim Cramer says Wall Street has a new dream candidate for president in 2012: New Jersey Gov. Chris Christie.

Appearing on MSNBC'S Morning Joe program on Thursday, Cramer said Wall Street executives embarrassed by the president's anti-business rhetoric aren't accustomed to facing the public spotlight.

NBC News Political Director Chuck Todd countered that Obama's reputation for interfering in free markets had been greatly exaggerated.

Cramer's response: "Image does matter. The belief that you're not doing something harmful does matter. You don't want to be named a fat cat. No one wants to be a fat cat in this country. It's still one of the most terrible … you can't be called a racist, you don't want to be a fat cat."

But while the President Obama's reputation on Wall Street is very poor, the reputation of the conservative, reform-minded New Jersey governor is soaring, Cramer says.

"I can tell you that … every single guy on Wall Street is suddenly from New Jersey," Cramer said. "Chris Christie could raise $500 million tomorrow … Yes, for president of the United States!"

Host Joe Scarborough agreed that frustration with the Obama administration is palpable on Wall Street.

"People on Wall Street have been embarrassed to be associated with the Republican Party for a long time," he said. "They think they're anti-intellectual, they think they're based in the South, they think they demagogic.

"Now, I have so many people coming up to me on Wall Street with so much money saying, 'I've never voted Democratic before, please find me a Republican I can write a huge check to."

The Wall Street Journal reported Wednesday that Wall Street's political contributions have shifted from 70 percent Democratic in March 2009 to nearly 70 percent Republican as of June 2010.

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