Investors were hopeful at the open on Tuesday, looking to recover from the previous session's selloff. But hope never seems to work as a strategy.

Tuesday was simply another brutal day in the market.

The banks again led the way, with Bank of America (BAC), Citigroup (C), National City (NCC) and Morgan Stanley (MS) all getting hammered.

Where do we go from here? To say there is panic and fear is an understatement. Btu remember, bear market rallies are vicious.

Are there any stocks to buy?

With this in mind, we thought we'd take a look at some of the stocks people are searching for on TheStreet.com and see what Jim Cramer's had to say about them recently.

These stocks could be in the news for a number of reasons. Some require immediate attention; others may not. Regardless, it never hurts to hear what Cramer (or any of the other professional investors on the site) has to say about them. The key is to gather as much information as you can in order to make the most informed investment decisions you can.

Pfizer (PFE), Intel (INTC), Apple (AAPL), Ford (F) and almost all other major names were down on Tuesday. Here's Cramer's take on the banks,specifically regional banks:

"We have a crisis in regional banks, a bad one. We have a bunch of banks with their bonds trading in the 50s -- that's right, the 50s -- which has me very concerned, and should have the FDIC concerned, too, if they look at such things, because they are great measures of who is about to be in trouble next, or is in trouble now.

That's why it is really important that Key (KEY), Sovereign (SOV), Regions (RF), First Horizon (FHN), Fifth Third (FITB), Comerica (CMA) and Nat City all go to TARP as soon as it is open for business. I hope these banks don't say, 'We don't like the stigma.' I hope they don't say, 'This is a wait-and-see situation.' I hope they take their whole loans, their bad whole loans, both fixed and floating, and get them off the books. They will be able to survive and even thrive, even with stock given to the government.

These are the kinds of companies that TARP is made for. I don't know their CDO exposure, but I know they are loaded to the gills with problem mortgages, and TARP is truly their only hope.

Once they sell the bad loans, they can be bought by a Goldman (GS) or a Morgan Stanley that needs deposits, or they can go it alone.

That's just terrific. It is one of the first good things that could come of this deal, and it needs to be done tomorrow when TARP starts.

For more of what Cramer thinks about Tuesday's top-earched stocks, including Mosaic (MOS) and Diageo (DEO), check out the Cramer's Take portfolio at Stockpickr.com.

(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned Goldman Sachs and Morgan Stanley for his Action Alerts PLUS charitable trust.)

Posted on Oct. 6, 2008