My buddy Jim sent this link over. He's been beaten up pretty good in the market as have many of you. My friend Kim was in earlier and I heard about her IRA misery. I think that the money is gone, unfortunately. But I think you guys will get rich again. Here's hoping. I don't trade stocks - learned my lesson once. Rather look at a painting than a stock any day.
Anyway, Mad Money's Jim Cramer takes a little bite out of the President's hindquarters here. He says don't penalize the investor class with the cure. As I said I don't have a horse in the race so I am only putting it up to humor my buddy Jim, who got stung and who is muy simpatico with the message.
I have bad feelings about the american public subsidizing all of the bad debt floating out there - toxic banks, what have you. AIG - 62 billion lost in the last 90 days. With no accountability. But it looks like it will happen. We are all going to eat it bad. But the ball started rolling long before this president took the helm.
2 comments:
Jim Cramer is a mad man alright. He is full of shit, as exposed on 'The Daily Show' the other night.
He was no more aware of Wall Streets eventual collapse than Kramer on Seinfeld.
My friend Jim tried to explain this thing to me today. He says that investors will ultimately be the ones to get the country out of the hole but if they get a tax whammy now, everything is sunk. I am not sure if there problems are any bigger than the problems facing those facing foreclosure or the jobless right now but don't know the answer.
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