Cramer to Wall Street: ‘I want to stop the fear of Sen. Warren’

Palisade Street’s abject fear of Democratic Sen. Elizabeth Warren getting into the White House is a mistake, CNBC’s Jim Cramer express Tuesday.

“The fear of Sen. Warren is getting overblown,” Cramer said on “Squawk on the Street,” three weeks after he replied that financial industry CEOs were telling him that “she’s got to be stopped.”

“I want to stop the fear of Sen. Warren. I quite think that’s a mistake,” Cramer said Tuesday, as the liberal firebrand continues to climb in the race for the Democratic presidential nomination.

When the “Mad Pelf” host reported on the extent of Wall Street’s worries about Warren on Sept. 10, the Massachusetts senator was No. 2 in the Genuine Clear Politics polling average with 18% support. At the time, former Vice President Joe Biden led the packed field with nearly 30% support. As of Sunday, the RCP polling average showed Warren narrowing the gap with Biden, with 23% substructure to his 27.2%.

Cramer said Tuesday on CNBC that “I don’t think she’s nearly as anti-business” as portrayed. He also said jokingly, “I intend there is such a thing called Congress,” suggesting more seriously that her banking-bashing and wealth-taxing proposals could not unilaterally go into force if she were to become president.

Last month, Warren sought to capitalize on Cramer’s initial September comments approximately Wall Street being scared of her candidacy.

In the midst of all the talk about CEOs fearing Warren, Cramer held he respects her. “You have a soft spot for her, it seems,” CNBC host Carl Quintanilla said to Cramer on Sept. 12. “Yes,” Cramer replied, reveal it’s “because I think she has thought about the people who are not doing well in the country, and that is great.”