Buffoon
Posted on 10/03/2008 3:23:41 PM PDT by george76
“One-hundred-and-sixty-six academic economists signed a letter opposing the government bailout. In a commentary, one of those economists said the talk of Armageddon was scaremongering,” NBC “Today” host Matt Lauer said Oct. 1. Cramer said the experts didn’t know what they were talking about.
“Today” host Matt Lauer had cited a commentary authored by Jeffrey Miron, the director of undergraduate studies for the Harvard University Department of Economics. “‘The current credit freeze is likely due to Wall Street’s hope of a bailout; bankers will – don’t laugh yet – bankers will not sell their lousy assets for 20 cents on the dollar when the government might step in and pay 30, 50 or 80 cents on the dollar,’” Lauer said, quoting Miron.
The letter – which earned signatures from economists at Massachusetts Institute of Technology, the University of Chicago, the University of Pennsylvania and many other schools – warned that a hastily designed bailout plan would risk being unfair to taxpayers, being unclear in its scope, and setting up long-term negative effects that could weaken “innovative private markets.”
It’s not the first time Cramer has accused bailout opponents of ignorance. “The American public don’t know jack,”
(Excerpt) Read more at businessandmedia.org ...
This from the douche who was recommending Bear Stearns stock not that long ago.
Cramer is the ultimate ‘pump-and-dump’ artist. When he recommends ‘buy’, it really means ‘sell’, and vice-versa.
I agree, the American public don’t know jack.
BECAUSE MEN LIKE CRAMER ARE THE ONLY ONES ALLOWED ON THE AIRWAVES!!!!!!!!!!!!!!
I am sick of the MSM ruling us....for 40 years running!
I wonder how he feels after the Nancy and Barney show today where they proclaimed control over America’s financial insititutions.
And AIG and Wachovia and Schlumberger and USB....
Mmm...Jim Cramer...unhinged.
“The American public don’t know jack,”
Yes, I'm being sarcastic.
Cramer saying we “don’t know what we’re talking about”.
Now there’s the pot calling the kettle black.
Cramer is a robot built only for entertainment value, but this early model has failed to entertain (or inform).
Good read.
http://www.cxoadvisory.com/gurus/Cramer/
The massive powers handed over to the Secretary of the Treasury is unbelievable. He will control all commerce in the United States, possible the world.
That really is the end time beast
Yup, the list goes on and on.
This guy bites the heads off of foam bulls, and we are supposed to listen to him????
That dickhead doesn’t care about anyrhing but his stupid stock casino!
USB is doing fairly well.
The funny thing is though, I like Cramer simply because he raised an interest in investing in me, now I never bought based on his advice as his gatling gun style of recommendations also made it hard to form an opinion on his track record.
But “yeah” I’ve watched since Cramer was on Fox, and he can recommend some stinky cheese..
He ended up putting USB on his “wall of shame”..
And Cramer is more of a Lib, and USB has given large money to Obamao..
Buffoon
neither does “almost went to jail hisself” Cramer either
a charlatan loudmouth...a tent preacher...and a bad one
The entire retail stock brokerage system is predicated on the idea of sell low/buy high.
I’ve never seen really good advice from a retail brokerage or a TV analyst. They sell stocks to their clients at the top and get their clients to sell at the bottom of the market.
It’s all about buying “Hot” stocks that have already hit the top and selling underperforming equities that have bottomed out.
The selling of assets has nothing to do with the credit freeze. If you sell assets you just get the cash for those assets. You still come out even on the balance sheet whether it’s an investment or cash. Most lenders will take on loans based on how much risk their is to their balance sheet. If loans are risky now and they very much are they would rather keep that 20 cents on the dollar in cash.
Some experts. Sheesh.
If you could get 30 40 50 80 cents on the dollar then you have a much stronger cash position and more likely to take on loans.
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