Cramer: Bernanke, Wake Up (Funny stuff)

[The once and future king]

Cramer totaly losses it. Armeggedon approached apparently.

[DcifrThs]

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Cramer totaly losses it. Armeggedon approached apparently.

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before the rant realllly gets going the b*tch goes "cramer"

and again "cramer"

like, "cmon dude, CHILLLLL"

then, "ok hold on...here's the thing, i know you're passionate and i hear you but..."

and jim comes in again!!! "YOU CANT GET A DARN LOAN UNLESS YOU'RE RICH LIKE ME"

omg lol

GOLD JERRY GOLD!!!!

he seems to think that if bernanke lowers the rate, the spreads will come in magically.

wowsa.

Barron

[irunnotgood]

Good stuff, I guess Cramer thinks the Fed as a magic wand that can fix all ills.

Anybody think that Erin Burnett looks better than Maria?

[Nomad84]

That's pretty funny, except for the fact that I'm about to be trying to get a loan. And I'm not rich like him.

[WindFallProfits]

the fed can fix everything.

[gonebroke2]

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the fed can fix everything.

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The FED created this mess. Too late to fix it.

[CrushinFelt]

Close, but her hair like dwarfs her body sometimes.

Those numbers that Cramer spouted off are pretty insane (half the people who took out a mortgage in the last 3 years losing their job or 7 million ish). I haven't actually read anywhere that that is the case and if anyone on here has access to some quotes like that I'd like to see it.

I think he's clearly acting a bit, but I was on the conference call with Bear Stearns and the guy definitely said when asked to compare this to the worst of the worst for the market (i.e. the crash and the .com bubble) and he said explicitly that this is the worst he's seen the fixed income market in twenty years.

Up until that point, I rally felt fairly confident about things. Obviously it was apparent that there would be some large mark downs over the next couple months and that there will be some bodies floating in the river along the way, but from the numbers they spouted off it really looked like this was just a hit they would take in stride. It really seemed like although liquidity as a whole was drying up that there was sufficient capital to take a hit.

I dunno, it will be interesting to see what kind of retraction Cramer takes tomorrow. He won't take back what he said but he'll probably apologize for behaving like he did.

I think the long run implications of the fed stomping down the rates may be worse than weathering thise current storm.

[jaydub]

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Those numbers that Cramer spouted off are pretty insane (half the people who took out a mortgage in the last 3 years losing their job or 7 million ish). I haven't actually read anywhere that that is the case and if anyone on here has access to some quotes like that I'd like to see it.


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From memory it was more to the effect that 14M loans were taken out in the past 3 years with 7M being exotic and he predicted that half of the exotics would lose their home. This is effectively saying a quarter of the loans taken in the past 3 years would be foreclosed. Not as drastic as you say but a wee bit pessimistic none the less.

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I think he's clearly acting a bit, but I was on the conference call with Bear Stearns and the guy definitely said when asked to compare this to the worst of the worst for the market (i.e. the crash and the .com bubble) and he said explicitly that this is the worst he's seen the fixed income market in twenty years.


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I actually think he wasn't acting (much).

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Up until that point, I rally felt fairly confident about things. Obviously it was apparent that there would be some large mark downs over the next couple months and that there will be some bodies floating in the river along the way, but from the numbers they spouted off it really looked like this was just a hit they would take in stride. It really seemed like although liquidity as a whole was drying up that there was sufficient capital to take a hit.


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My thinking is that he has decided that instead of ridiculously pumping CFC it is time to go the other way and say the sky is falling. Either way I still view him as a sideshow act and give him little credibility. If he tells me the sky is blue, I place one hand on my wallet and look up; just to check.

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I dunno, it will be interesting to see what kind of retraction Cramer takes tomorrow. He won't take back what he said but he'll probably apologize for behaving like he did.

I think the long run implications of the fed stomping down the rates may be worse than weathering thise current storm.

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[spider]

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From memory it was more to the effect that 14M loans were taken out in the past 3 years with 7M being exotic and he predicted that half of the exotics would lose their home.

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I heard this as "they will lose their homes" meaning 7 million (of the 14) will lose their homes. I doubt he really meant that literally but who knows.

I also did not think he was acting. Appearing passionate/emotional is one thing, looking like a lunatic is another -- unless of course we are really on the edge of Armegeddon/Great Depression part 2 in which case Cramer will look good in retrospect.

But hardly anybody smart would go as far as Cramer is going. And if Cramer is so wired in to what's happening, what took him so long to figure this out? Tons of folks have been talking about the eventual problems that would be caused by the excessively low risk spreads for the last couple of years.

Also, discount window WTF? That is just for super short term (overnight) loans, right? That mainly matters for short term panics like 9/11. Whatever the current problems are and regardless of how serious they are, I don't see what the discount window has to do with it. Nobody facing foreclosure is going to be helped by opening the discount window.

Did not realize Cramer was 62. He is such a spaz I thought he was early 50s or so.

[mrbaseball]

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I dunno, it will be interesting to see what kind of retraction Cramer takes tomorrow. He won't take back what he said but he'll probably apologize for behaving like he did

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Actually he came back on about 10-15 minutes after the rant for an unscheduled, impromtu, quicky interview with Ratigan as the market was freefalling. Sort of apologizing saying he didn't mean to say the sky was falling.