Skip to comments.Cramer Rips Feds for Congressmanís 1K-2K Dow Drop Call: Washington Has Decided to Eviscerate Profits
Posted on 06/29/2010 2:45:20 PM PDT by Rufus2007
On CNBC's June 29 broadcast "Power Lunch," Rep. Paul Kajorski, D-Pa. made a pretty prediction about the Dow Jones Industrial Average (DJIA) should Congress be unable to pass financial regulation legislation. [Video Available Here]
"You know, I wish every one of them would ask the question and also the industry and media, what happens in this country if this bill fails?" Kanjorski said. "Do you think 236 points down on the Dow is surprising? Check 1,000 or 2,000 points if we fail to change the ways that caused this problem."
That caught the attention of CNBC's Erin Burnett, who played the clip for "Mad Money" host Jim Cramer. Cramer blasted Kanjorski and the entire institution of the federal government for being a drag on the markets for a myriad of reasons on his June 29 "Stop Trading" segment of CNBC's "Street Signs." ...more (w/video)
(Excerpt) Read more at newsbusters.org ...
Congress are such liars. The volatility is their hedge fund buddies fleecing Americans. The financial companies being destroy was CRAs/community organizers suing to insure everyone gets a loan.
This is intentional.
The President and his Congress want to destroy paper (hence....unrealized) wealth.
It’s a commodity that less affects their supporters, especially since the Unionized component of that has guarantees.
You get what you vote for Cramer.
Cramer is about as sharp as a cue ball... hard to imagine that voting in a hate American, anti-capitlaist, anti-free market a$$ clown would result in policies that would be detrimental to the economy, isn’t it? What a nimrod.
....and that Erin Burnett is quite the little socialist. Today she called for the gov't to use eminent domain (she hemmed and hawed for a minute until someone whispered that term in her earpiece) to build the track for bullet trains across the country....kind of a 21st century version of the Hoover Dam.
If Congress resigned we would be UP 1k-2k. They should comprehend that reality.
The bullet trains across the country and the comparison to the Hoover Dam (something the people could SEE) were actually the thoughts of her guest. However, she jumped right on the bandwagon with her call for eminent domain to obtain the rights of way for the track.
I didn’t realize it wasn’t hers, but the idea is the same, a unifying symbol, we can all chant ‘bul-let train’ the way they chanted ‘monorail’ on the Simpson’s and the rest is the same.