Back in December, Cramer lost it on the street.com, when he started explaining how he used to break the law when he ran his fund, and the clip was as viral as you could get. Then back in June, my eyebrows went up when Cramer starting touting to the world why they shouldn't short Bear Stearns. Now the newest in Cramer Hall of Fame will be this meltdown he had, while talking to Erin on Stop Trading you have to see this!!
It seems Cramer is desperately seeking the Fed to cut rates and bail out the big brokers who are all experiencing credit questions due to uncertainty of the Sub Prime fallout, and the exposure of all the major financial institutions will have to the fallout. He abuses Bernanke, and also crushes William Poole, who is a 40 year veteran of the Fed system, see his bio http://www.federalreserve.gov/bios/pres08.htm. Cramer apparently thinks that these guys are just academics and they don't understand the markets. "His guys" he says are 25 year veterans and they know better than Greenspan's hand picked successor, and Poole who is a 40 year Fed vet. Cramer seriously melted down. What is the problem. Does Cramer think that its the Feds job to bail out Wall Street? Erin Burnett even looks confused at what is happening to Cramer.
Enjoy the latest from Cramerica.
It seems Cramer is desperately seeking the Fed to cut rates and bail out the big brokers who are all experiencing credit questions due to uncertainty of the Sub Prime fallout, and the exposure of all the major financial institutions will have to the fallout. He abuses Bernanke, and also crushes William Poole, who is a 40 year veteran of the Fed system, see his bio http://www.federalreserve.gov/bios/pres08.htm. Cramer apparently thinks that these guys are just academics and they don't understand the markets. "His guys" he says are 25 year veterans and they know better than Greenspan's hand picked successor, and Poole who is a 40 year Fed vet. Cramer seriously melted down. What is the problem. Does Cramer think that its the Feds job to bail out Wall Street? Erin Burnett even looks confused at what is happening to Cramer.
Enjoy the latest from Cramerica.
JT
posted by LOCATESTOCK @ 11:19 AM
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2 Comments:
At August 6, 2007 9:52 PM ,
April said...
Jim Cramer is worth listening to. There are not many who are willing to step out of the crowd as he does. If you get offended at his style, well, that is what you do.
Mr. Cramer tells about himself and his history of misfortune so people can understand he has learned things in the real world. He cares enough about the people who may lose everything because they've listened to the "market". The "market" needs "fresh meat" everyday to keep going. I have been there. It is painful to get caught off guard by the market. I have had to learn to think for myself.
I would like to know more about what he sees as different in this market. If 7 mil homes will be lost because of "teaser rates", well, that could be my sister or my friend.
We don't want to admit we are like sheep out here, and Jim Cramer is looking out for us.
We need more people who care as Jim Cramer does.
April Lankford
Seattle, Washington
At August 8, 2007 12:05 PM ,
JC said...
Finally, someone has the balls to tell it like it is. KUDO"S JIM! Big media (including CNBC) has the responsibility to "inform" people and not just allow high paid money managers and consultants to come on TV and say that the subprime sector is just a blip on the screen and they'll adjust programs, and tighten lending guidelines as I saw on KUDLOW & COMPANY Monday. All 4 guests sat there said this is no big deal! WHAT A SHAME.
JIM IS RIGHT, THEY HAVE NO IDEA WHAT'S GOING ON OUT THERE with the average American.
I was a high paid mortgage consultant and QUIT my 6 figure job, much to the surgrin of my wife in 2003 because I witnessed some real nasty business practices. I wrote a book about the pending Mortgage doom and no one bought it, and no one would listen to me. Well here we are! The mortgage sector made trillions off the very equity it created for us by created loan programs...but people are dumb and they will use equity to go on vacation and buy cars, and now few have any equity left thanks to millions of NEG AM loans that people are stuck in with huge pre-payment penalties. Why are defaults and foreclosures at record levels? It's common sense.
I called every radio station in LA, emailed CNN, Lou Dobbs, The Big Idea and CNBC to challenge any mortgage company CEO including Countrywide's, to debate me about what is really happening to consumers. NO RESPONSE! GOTTA PROTECT THE ADVERTISERS!!! I'm sure Jim will hear from sr. executives about telling the truth, because right after his comments DieTech ran their FOOLISH ad stating People are smart. No People are sheep!
I guess Michael Moore and I will have to make a documentary about it to get people to listen
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