Jim Cramer Discusses Goldman Sachs (GS) & Trump Credit Card Cap

We recently published 13 Stocks Jim Cramer Commented On. The Goldman Sachs Group, Inc. (NYSE:GS) is one of the stocks Jim Cramer commanded on.

Banking giant The Goldman Sachs Group, Inc. (NYSE:GS)’s shares are up by a strong 45% over the past year. Cramer has also discussed the firm several times over this time period. The CNBC TV host has remarked that the bank has benefited from the growth in markets activity under the Trump administration. HSBC also discussed The Goldman Sachs Group, Inc. (NYSE:GS) in January. It lowered the share price target to $604 from $608 and maintained a Hold rating. HSBC remarked that the banking sector’s pullback had created some opportunities. The Goldman Sachs Group, Inc. (NYSE:GS)’s CEO, David Solomon, sat down with CNBC’s Squawk Box at the WEF earlier this month and commented that the US economy could see growth acceleration. The shares had dipped earlier this month after President Trump had raised the possibility of placing a cap on credit card interest rates. Cramer commented on what he believes The Goldman Sachs Group, Inc. (NYSE:GS) and other banks should do:

“They better get on the case. This is something that, everything involving credit card, also Visa, Mastercard. It is always going to Congress. And Congress has an affinity for the banks, because there are bankers in every single area. And one of the great areas for profit is the credit card. I think that if you listen to the real, the bankers will say, listen, some people will have to pay more. And it’s very clear, if you ever go and look at their website to be able to buy things, it’s clear that [inaudible] is in the house.

“. . .Again, ten percent with a thousand dollar credit line, could work for one year, and they have to come to the table or else they’re gonna be made fun of and embarrassed everyday.”

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Disclosure: None. This article is originally published at Insider Monkey.