JIM CRAMER ON TODAY - TAKE YOUR MONEY OUT NOW! October 6

[BeatleBoot]

Run time: 02:42 https://www.youtube.com/watch?v=uoSLVCEGKko   Posted on YouTube: October 06, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: December 24, 2008 By DU Member: BeatleBoot Views on DU: 966

 

[Idealism]

1. Jim Cramer has lost many people a LOT of money

Never follow advice from anyone on television, especially about your financial future.

[Johonny]

8. His job is to make himself money

and he's pretty good at that.

[Warpy]

2. Note the date

Cramer is reactive, not analytical. By Oct 6, the horse had pretty much fled, and the market was continuing to dive on sheer panic, something Cramer is good at feeding.

He's been right about keeping our eyes on Cerberus, though.

[BeatleBoot]

3. What is his take on Cerebus?

[Warpy]

4. That bailout money has allowed them to position themselves

to pretty much take over the domestic car companies.

[BeatleBoot]

6. Interesting

I am no expert, but it just seems that it would be difficult for Cramer (or anyone else) to ascertain their situation and come to this conclusion, given the fact that Chrysler, LLC is no longer a publicly held company.

[n2doc]

5. Meh. Now if he had done this October 6, 2007 he'd be a Genius! n/t

[CoffeeCat]

7. RIGHT HERE... definitive Jim Cramer video...MUST SEE!!

http://www.youtube.com/watch?v=I1eSlYtXiro

I find this video of Jim Cramer melting down--so revealing. The man becomes
unhinged, and the truth falls out of his mouth.

He discusses how the big dogs call him and pressure him all of the time, "What
are you going to do about this Jim? Are you going to help us???"

Jim Cramer vacillates between two different worlds. On one hand, the guy has
a conscience. He knows he's part of the uber elite and he sees the little guy
getting screwed. Every once in a while he freaks out, tells the truth and
tries to save 'middle America."

But Cramer's a powerful financial mouthpiece. He's got everyone in the financial
game hammering at him to 'say this' and 'don't say that' and 'talk up this stock'
and 'quit beating down my company.' I used to work in PR for a public company
and the pressure is fierce on reporters and talking heads who cover public
companies. Cramer is ruled by these people most of the time. He shuts up.
He promotes what people tell him to promote. He leverages companies for whom
his buddies work.

Then, on rare occassions, his conscience gets to him and he blows a gasket...and a volcano
of truth erupts.

That's why I love this video...this happened Aug 07... http://www.youtube.com/watch?v=I1eSlYtXiro

[BeatleBoot]

10. Thanks.

[Best_man23]

9. Cramer has also been very vocal about Bernanke and Cox

Has repeatedly said that Cox needs to be fired. After reading other reports on the SEC's performance, firing Cox is not enough, the man needs to be prosecuted for gross negligence and malfeasance. Obama should ask Uncle Ben for his resignation ASAP after he takes office.

The "Cramer rant", which aired in August 2007 was in response to the Fed's announcement that there were no problems in the financial markets, and they were still concerned about inflation increasing, therefore, there was no need to adjust interest rates. The wheels began to come off of the economy a couple of weeks after the rant aired.

The slow response by the Fed and SEC to the crisis served as accelerants to the financial fire. Obama's economic team (including Mary Shapiro, the new SEC chair) have a lot of work to do to clean up the mess.