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Cramer on BloggingStocks: If we 'let it happen,' the center cannot hold

Posted Feb 26th 2009 10:00AM by Jim Cramer (RSS feed)
Filed under: Market matters, Amer Intl Group (AIG), Wells Fargo (WFC), Cramer on BloggingStocks, Financial Crisis

TheStreet.com's Jim Cramer says everything depends upon these financial programs.

Maybe Sheila Bair doesn't matter at all. Maybe nothing matters. The chatter behind the scenes everywhere is, "Just let it happen, it can't be any worse than this."

I say, are you kidding me? Do you know that our whole country would simply stop if we didn't have these programs and these government promises?

Think of it like this: If you have models that show 10% unemployment and you offer credit cards, your model says don't offer them. But if the government didn't guilt-trip these companies into offering them, you couldn't get one.

Continue reading Cramer on BloggingStocks: If we 'let it happen,' the center cannot hold

Cramer on BloggingStocks: We need Sheila Bair

Posted Dec 4th 2008 9:18AM by Jim Cramer (RSS feed)
Filed under: Market matters, Citigroup Inc. (C), JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Cramer on BloggingStocks, Financial Crisis

TheStreet.com's Jim Cramer says removing her from the FDIC would be a colossal mistake.

Don't kick out Sheila Bair! She knows the numbers. This morning, Bloomberg's reporting that Tim Geithner doesn't want Bair at the FDIC anymore because she is not a team player.

To which I say, "Thank heavens!" -- the team was terrible! These reports make her sound like Terrell Owens in the locker room -- a great player who is cancerous when going gets tough -- when it is actually the opposite: She is the franchise player to build around. When Indymac was seized (something I wish she had done earlier, but she waited as long as she could), she and her organization became the laboratory, the great central testing zone for what will work and what won't work to stem foreclosures, the root cause of all of our financial problems.

She was ignored, systematically ignored, even though she had the knowledge base. Both Geithner's organization and Treasury always thought the situation was either under control or could be controlled by top-down thinking: Give Wells (NYSE: WFC) (Cramer's Take) and Citi (NYSE: C) (Cramer's Take) and JPMorgan (NYSE: JPM) (Cramer's Take) and Bank of America (NYSE: BAC) (Cramer's Take) some money, they will lend, it will trickle down.

Continue reading Cramer on BloggingStocks: We need Sheila Bair

Symbol Lookup
IndexesChangePrice
DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 28, 2009: 08:55 AM

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