Leaders in the financial industry are really worried about the possibility of Sen. Elizabeth Warren becoming president, CNBC's Jim Cramer said Tuesday.

"When you get off the desk and talk to executives, they're more fearful of her winning," Cramer said on "Squawk on the Street." Cramer said he's hearing a "she's got to be stopped" mantra bubbling up among executives on Wall Street and elsewhere.

Warren, a champion of the left wing for her bank-bashing and wealth-taxing proposals, has been doing better at the polls in the crowded field of candidates vying for the 2020 Democratic presidential nomination.

The Massachusetts senator is No. 2 in the Real Clear Politics polling average with 18% support. Former Vice President Joe Biden is first with nearly 30%, and Vermont Sen. Bernie Sanders is third with almost 18%. No other candidate is even close breaking into the top three.

Warren is a "very compelling figure on the stump," Cramer said, predicting that she's going to win the first-in-the nation nominating contest in Iowa, set be held Feb. 3, 2020. "It would be a suboptimal situation for the banks" if Warren were to win the Democratic nomination, he added. President Donald Trump, while facing a few primary challengers, is expected to easily win the Republican presidential nomination.

Warren on Tuesday evening tweeted a response to Cramer's reporting, saying she approves "this message."

tweet

CNBC's David Faber told Cramer on Tuesday's "Squawk on the Street" that he's hearing the same rumblings about Wall Street being fearful of a Warren presidency.

"It's another reason why companies are being implored to do things now ... because come early to mid-2020 if Elizabeth Warren is rolling along, everybody is going to be like, 'That's it,'" Faber said.

In her latest interview with Cramer on his "Mad Money" show on CNBC, Warren said in January, "I want these billionaires to stop being freeloaders." At the time, she was officially exploring a run for president.