tag:blogger.com,1999:blog-27612105.post8421448514996582008..comments2024-01-11T02:23:42.118-08:00Comments on Keepin' It Real, Yo: Jim Cramer Is Getting A Raw Dealpiker62http://www.blogger.com/profile/10976799832683250524noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-27612105.post-29705420111535898392009-03-17T07:38:00.000-07:002009-03-17T07:38:00.000-07:00I'm with Vinny on this one.It reminds me of this d...I'm with Vinny on this one.<BR/><BR/>It reminds me of this discussion I had about rather it is racist to dislike Obama. I concluded that if you're a far-right partisan there are PLENTY of reasons to hate Obama without racism coming into it. <BR/><BR/>By the same token, there is much to hate about a man who screams bad financial advice to you daily, no matter who you voted for.piker62https://www.blogger.com/profile/10976799832683250524noreply@blogger.comtag:blogger.com,1999:blog-27612105.post-66306943365273778892009-03-16T19:38:00.000-07:002009-03-16T19:38:00.000-07:00Cramer is getting slimed by the extreme left for o...Cramer is getting slimed by the extreme left for one reason... he dissed the Obamamessiah. Cramer is now the left's sacrifice to their God. Amusingly, he is ONE of THEM! Cramer is a leftist that voted for the messiah.Publiushttps://www.blogger.com/profile/15673569384659379202noreply@blogger.comtag:blogger.com,1999:blog-27612105.post-34328956427706912802009-03-16T16:37:00.000-07:002009-03-16T16:37:00.000-07:00"I thought Bear Stearns was honest." Jim Cramer.I ..."I thought Bear Stearns was honest." Jim Cramer.<BR/><BR/>I don’t believe this.<BR/><BR/>I think that Jim Cramer believed that the guys who ran Bear Stearns would pull the same kind of deceptive shenanigans in order to line their own pockets that Cramer pulled when he ran his own hedge fund. Cramer might have thought that there was some limit to what those guys would pull and that wherever that limit lay, there would still be a piece of the pie left over for the shareholders. That is not at all the same thing as thinking they were honest.<BR/><BR/>This is where I think Jon Stewart nailed it. I don’t think Jim Cramer knew that Bear Stearns was going to collapse. I do think he knew the kind of things that people on Wall Street do to make money and I think he understood the ways in which the interests of the guys running the firms diverge from the interests of the shareholders. The problem is not that the executives at Bear Stearns were not exposed to declines in the stock. The problem is that the benefits of short-term high-risk strategies were enjoyed to a much greater extent by the executives than by the shareholders while the risks were shared equally. This is what I think Cramer understood without ever trying to make his audience understand. <BR/><BR/>The bonuses at AIG illustrate the problem perfectly. The compensation of the executives who wrote the credit default swaps was structured in such a way that they are entitled to millions of dollars in bonuses even though there actions brought down the company and cost the taxpayers of the United States billions upon billions of dollars. The scale may be enough to shock Cramer, but the basic methodology shouldn't be.Vinnyhttps://www.blogger.com/profile/08955726889682177434noreply@blogger.com