November 8, 2007

Jim Cramer Needs to Get a Grip on What His ‘Friend’ Is Really Up To

Filed under: Economy,MSM Biz/Other Ignorance,Taxes & Government — Tom @ 6:45 am

Jim Cramer, host of CNBC’s “Mad Money,” is a Democrat and a professed longtime personal friend of former New York Attorney General and now-Governor Eliot Spitzer.

Yesterday, Cramer went after the Empire State’s current AG:

He labeled New York Attorney General Andrew Cuomo a “communist” who “wants to shut down the mortgage market.”

“[W]itness the fact that right now, the most important man in America for the stock market – the most important man and I mean it negatively is this guy Andrew Cuomo, the New York State Attorney General,” Cramer said. “I’m getting tired of the New York State Attorney General being the most important man in America.”

Then Cramer really went on the attack, even comparing Cuomo to his politicized predecessor Eliot Spitzer. “Cuomo’s about confiscation – genuine communist,” Cramer said. “The Chinese are capitalists, we got a communist.”

….. “Can I give you the real headline?” Cramer said. “Cuomo says let’s make it harder to get a mortgage, let’s make it harder to lend. Is that really the intent of this Democrat who wants to be president of the universe?”

No, Jim, it’s the intent of “this Democrat,” and his boss, both of whom want another Democrat to be president.

Take the blinders off, pal:

  • Your buddy is Cuomo’s chief executive. The AG has his at-least tacit approval, and at most his active support.
  • Eliot Spitzer’s reign as AG was all about confiscation and winning through intimidation. Cuomo is merely imitating a mentor.
  • The current AG has an agenda that totally gets in the way of your attempts to help people make money in the stock market — and he could care less. You see, Cuomo’s goal is to dry up the credit markets in hopes of bringing on the recession that Democrats so desperately desire, because they believe a recession would improve their chances at winning the White House in 2008.

It might work.

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3 Comments

  1. America needs to wake up to this issue in New York because it is the same playbook Marc Damm and Ted Strickland are quietly moving to, and this goes for most Democrats and some Republicans in other states.

    Cramer is a long time Democrat, who I hope will wake up to their horrific ideology.

    Comment by Brian — November 8, 2007 @ 9:03 am

  2. Cramer has started to buy in to the Republican hype about free markets and finance. The economy belongs to all of us, and when a large financial institution such as WAMU, or Merrill Lynch, or even Goldman Sachs, participates in schemes that leave hundreds of thousands of citizens destitute and losing their homes, it is government’s duty to investigate and see what went wrong. Cramer should keep his tantrums to himself. Cuomo is doing his job to protect consumers from the Wall Street Sharks. Does Cramer now side with the sharks and gonifs on Wall Street? He’s come a long way.

    Comment by JayMagoo — November 8, 2007 @ 9:55 am

  3. #1, you are exactly correct.

    #2, please describe the “scheme” that led willing adults to willingly do what they did, and what could possibly give rise to civil and/or criminal penalties.

    Cuomo is on a market-intimidating witch hunt.

    Comment by TBlumer — November 8, 2007 @ 11:11 am

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