I am still working on the Argentina story so I will put this up when I finish my research.
Today I wanted to go back in history and laugh at how ridiculous CNBC and Jim Cramer are.
The quotes here from Jim Cramer here are just classic. Keep in mind that the DOW was at 13,000 as Cramer screamed about the Fed's hesitance to cut interest rates.
Cramer on Bear Stearns negative press releases: "Never explain, never complain" HA! Great strategy: No transparency=broke investors in this case.
Cramer: "I like Bear Stearns very much" How did that work out? The stock was at $106 when he said this. The rest is history.
Cramer: "I mean the DOW can rally. We've seen the DOW rally". Hehe.. Really? From 13,000? Nice call as we sit here in the 8's. How did that work out for you Jim?
Cramer: "He(Ben) has no idea what it's like out there! He has NO IDEA! He has NO IDEA!". My people have been in this business for 25 years and their losing their jobs and these firms are going to go out of business and he's nuts their nuts! THEY KNOW NOTHING!"
Translation: My people have been robbing the public for 25 years and these firms are going to go out of business because they leveraged themselves at 40-1. Please bail us out via lower rates so we can continue to rob the American public at the expense of the taxpayer.
Cramer on the credit markets: "Oh we have Armageddon. We have Armageddon in the fixed income markets."
Oh really Jim? What do we have now in the fixed income markets now that we are selling hundreds of billions of treasuries each week and quantitatively easing in a desperate attempt to keep to keep mortgage rates low? Is this Armageddon X 5?
Cramer: "You can't get a home loan out there unless your rich like me". HA! Seems to me like anyone with a pulse can still get a loan via FHA. Yes lending standards are tightening but the government continues to lend irresponsibly.
The pigmen desperately ask Cramer for help by asking "What are you gonna do about about it? Are you gonna help us?".
OK this in my view throws the journalistic integrity of CNBC right out the window. It's blatantly obvious that Cramer is a puppet for the oligarchs who need a figure head that will speak up for the poor billionaire thieves that stole our money and our future.
This is why CNBC should be completely ignored when you are looking for legitimate news sources around the financial markets.
I throw up every time I listen to this video. Cramer looks like a big crybaby who is throwing a temper tantrum as he watches the whole profitable housing fraud go down the tubes.
Jim and his Wall St cronies successfully pressured the Fed into dropping rates and creating lending programs that our children will be stuck paying off for generations.
The DOW is down almost 40% since these new programs have been implemented by the Fed. What's most disgusting about this whole 2007 charade is this asshat still promotes this embarrassment on his show proudly thinking he did the "right thing" and woke up Ben Bernake.
Ummm....Wrong Jim. All you did was help create the bailout mentality in Washington that will eventually destroy this country economically.
Congrats Mr. Cramer. You helped out your billionaire buddies at the expense of the middle class who are struggling to make ends meet as they lose their jobs by the millions.
But hey don't feel guilty: You saved your billionaire buddies. I mean god forbid they become millionaires because of this crisis.
Cramer: You are the one that should be ashamed of yourself not Mr. Poole.