Cramer Takes on the White House, Frank Rich and Jon Stewart (very detailed)

Main Street ^ | 3-9-09 | Jim Cramer

[STARWISE]

Suddenly, bloggers, opinion people, columnists and, yes, pundits who haven't paid attention to anything I have been saying or writing for the past 18 months are all over me.

Suddenly, I find myself in the center of a firestorm over Obama's economic policies, taking enfilading fire from the "liberal" media (from serious columnist Frank Rich to entertainer Jon Stewart) while being defended by Rush Limbaugh, the standard-bearer for the Republicans.

I'm uncomfortable being in the crosshairs of columnists and comedians I enjoy, and I find the embrace of Rush Limbaugh most certainly strange if not antithetical to many of my viewpoints.

So, why after toiling in the cable wilderness for four years with Mad Money am I the target of the wrath of the Obama clan, and the darling, albeit surely momentary, of the Obama-critics? After all, my criticism of Obama's handling of the economic crisis is a lot less pointed than my withering August 2007 "They Know Nothing" meltdown against the previous regime's handling of the economic crisis. Then, I advocated a swift slashing of interest rates by the Federal Reserve and a concomitant policy for potential widespread banking failures that were sure to come because of the Republican administration's pernicious laissez-faire attitude toward Wall Street.

The answer lies in the way the two administrations handled criticism. Related Media: Cramer Responds To The White House View »

The Bush administration, I believed, simply chose to ignore my warnings, perhaps because of a brutal combination of ideology, fecklessness and complacency.

Publicly, it was easy to ignore a carping Democrat, even as most of my insight came from apolitical people who ran many of the major trading desks and were simply worried about the sure-to-come tsunami spawned by subprime mortgages.

The Bush administration's endless "fundamentals are sound" observations seemed ridiculous in the face of what most chief executive officers from Main Street companies and all executives of the top investment banks knew to be the case. Ben Bernanke didn't seem to understand the urgency, perhaps because of his academic background.

Tim Geithner, the head of the Federal Reserve Bank of New York and the most important regulator of Wall Street, didn't seem to get the importance of a consistent policy in the face of frightened and confused participants in the capital markets.

Hank Paulson confused me the most. He ran Goldman Sachs (Stock Quote: GS), for heaven's sake. He had to know better, but he didn't. ~~~

Rest at link

[STARWISE]

"President Obama's team, unlike Bush's team, demonstrates a thinness of skin that shocks me.

When I somewhat obviously and empirically judged that the populist Obama administration is exacerbating the crisis with its budget and policies, as evidenced by the incredible decline in the averages since his inauguration, I was met immediately with condescension and ridicule rather than constructive debate or even just benign dismissal.

I said to myself, "What the heck? Are they really that blind to the Great Wealth Destruction they are causing with their decisions to demonize the bankers, raise taxes for the wealthy, advocate draconian cap-and-trade policies and upend the health care system?"

The video that enflamed the White House

[4rcane]

Cramer, anyone not on the same page as Obama needs to be taken out

[Reagan Man]

Six pages of Jim Cramer!

No thanks.

[jiggyboy]

Take Frank Rich and Jon Stewart. Both seize on the urban legend that I recommended Bear Stearns the week before it collapsed, even though I was saying that I thought it could be worthless as soon as the following week. I did tell an emailer that his deposit in his account at Bear Stearns was safe, but through a clever sound bite, Stewart, and subsequently Rich -- neither of whom have bothered to listen to the context of the pulled quote -- pass off the notion of account safety as an out-and-out buy recommendation.

Cramer is a liar. Every statement he makes of himself here is a lie. Here's the "context" which makes that clear: http://www.youtube.com/watch?v=_nkZ3eHeXlc

[jiggyboy]

http://www.youtube.com/watch?v=_nkZ3eHeXlc

[abb]

http://www.freerepublic.com/focus/f-news/2202325/posts
CNBC Thrives as Hosts Deliver News With Attitude (Obama Enemies List via NYT)
The New York Times ^ | March 9, 2009 | Brian Stelter and Tim Arango

[VeniVidiVici]

Tim Geithner, the head of the Federal Reserve Bank of New York and the most important regulator of Wall Street, didn't seem to get the importance of a consistent policy in the face of frightened and confused participants in the capital markets.

They still don't get it.

Zer0 says this is a buying opportunity. Yes, if you're an economic masochist who isn't sure what the current crop of Marxists are going to do next.

[Enterprise]

"So, why after toiling in the cable wilderness for four years with Mad Money am I the target of the wrath of the Obama clan, and the darling, albeit surely momentary, of the Obama-critics?"

Maybe it's because Obama is a pampered perfumed mama's boy who never worked in his life. They don't like it when people criticize him. It hurts his feelings.

[sarasota]

Didn’t you get the memo, Jim? You’re not allowed to speak against Hussein. He regulates the media and you have become the enemy.

[TNCMAXQ]

He is shocked at how thin skinned they are? Was he not paying attention during the campaign either?? It was obvious from the get go these are vicious partisans who make the Bush team look tame.

[screaminsunshine]

Obama said just today. Do not panic....It is now..TIME TO PANIC!!!!

[Enterprise]

They should have known back when he scolded MODO for writing about his ears. Thin skinned and bird brained.

[4Speed]

When guys like Cramer LOSE as much $$$$$$’s as they have, They seek the TRUTH WITH LASER LIKE ACCURACY.
No smoke, no BS, Just TRUTH.
These guys have their lives at risk, not Ideology, they speak Reality.

[Bitsy]

What the heck? Are they really that blind to the Great Wealth Destruction they are causing with their decisions to demonize the bankers, raise taxes for the wealthy, advocate draconian cap-and-trade policies and upend the health care system?”

Pelosi (the Evita Perone wantabe), Reid, Obama, et al should be very proud and history, if truthful, shall record that they alone took down the most powerful republic in the world and reduced it to a defeated socialist quagmire.

[brytlea]

I gotta say that was surreal to watch. That woman (Erin Burnett?) was pretty much like “oh, it’s fine”. I expected her to start exuding flowers and hearts or something.

[brytlea]

Sadly, they were helped by a little over half the voters.

[sauropod]

I’m not impressed. Later on in the same article, he affirms Robin Hood wealth redistribution.

[4rcane]

Bush team were hopeless inept. They never defend themselves

[VanDeKoik]

How on Earth is Cramer surprised by the reaction to him by the left?

Just because you towed the lib line in the past, does not mean you have freedom to be critical at will.

No amount of retroactive Bush-bashing is going to bring you back into the fold. You are officially an enemy of the state. And all of the power of the libs, from the Huff-a-ton Post to Obama’s court jester Stewart, will make you pay for daring speak against Obama.

[4rcane]

"I’m not impressed. Later on in the same article, he affirms Robin Hood wealth redistribution." Hey why not? If you look at Robin Hood from an anti-government, anti-socialism prospective, then Robin Hood wealth distribution is a good thing. Robin steals from the tax collectors and government, to give to the over taxed citizen