you are so right. I hope they will have some remorse after they lost all those hard earned money of small investors:
The funds filed for bankruptcy protection Tuesday, two weeks after the company told investors that one with assets of about $638 million was essentially worthless, and another worth about $925 million before taking on losses in March had lost more than 90 percent of its value.
But all they care is how to save their jobs...what can I say? Shameless people do shameless acts.
Kramer would do us all a favor if he took a gun to his head and pulled the trigger. If it happened to me it would be nothing more than flushing the toilet after taking a dump. The man if i can call him that is poison. Pissing on his grave would be a first for me....
Cramer is not looking for the Feds to bail out the Markets he is concerned about the implosion in mortgages and credit crunch. He knows how this is going to trickle (fall) down the line fast and will cause a major catastophe in the US markets, economy and worldwide. This is not concern this is panic.
This could make the Savings and Loan crisis of the Ninties look pale in comparison.
As of Thursday all the backers of mortgages have tightened thier rules to the point of stopping all funding of anything but AAA credit. This is VERY VERY VERY bad news for the markets and the economy. The fact that practically everyone who needs a mortgage cannot get one or get their ARM re-fi'd has catastrophic implications.
Their are several hundred billion dollars in ARM's that will move in Oct. With the housing market already dim, sales flat and interest rates rising. People who were planning on Re-financing their ARM's to avoid a rise in their monthly payments will NOT BE ABLE TO.
So you guys can talk about the retail investor, the tax basis for Hedge funds, the China market for RIMM all you want. But come next week the markets will be selling off big time to horde their cash. We are heading into a very dangerous period in the financial markets, one that has no precedent.
The chickens have come home to roost.
Cramer and his cronies know that the stock market is the only fake interface we hide behind. To the rest of the world that makes us look like we are in a better shape economically than we really are. Let's face it, we consume and borrow and that is where our GDP numbers come from. You can't do that forever. The ice will eventually melt and you know the rest