04/08/2008 05:12 am ET Updated May 25, 2011

Cramer Cracks Spitzer Joke While Discussing New Paulson Plan

While discussing Henry Paulson's new regulatory plans on CNBC Monday morning, talking head Greg Valliere, a Chief Strategist at the Stanford Washington Research Group, cracked that he needed to take a Jim Cramer moment and rant about how "rewarding" the Fed with more regulatory power was "like putting Eliot Spitzer in charge of the morals division," to which Cramer, without missing a beat, quipped back, "Well, I wouldn't necessarily make the Fed Client No. 10."

Watch the video:

(From CNBC 3/31)