* Bernanke panicked, and took rates down too far for too long (hmmm... why does that sound so familiar?)
* Commodity prices went to the moon, while the US dollar collapsed
* Bear Stearns, Countrywide and IndyMac went under, while Washington Mutual (who Cramer mentions at the end) falls to the brink of insolvency
* All the financial and REIC stocks got murdered, and hundreds of thousands of bankers and REIC lost their jobs
* Home prices fell like a rock
* Pro athletes and year-round-golf in Phoenix couldn't save the day, and idiot realtors on commission still stuck with ramen for dinner
* Angelo Mozilo STILL hasn't been arrested
Watch the video again, think about what's transpired these past 12 months, and get your predictions in now on what the next year looks like
Love him or hate him, that Cramer sure is entertaining... I loved this video that day, and it's even better now, aging like a fine wine...
August 01, 2008
It's been one year since this infamous live Jim Cramer CNBC meltdown (and youtube fame). Think about all that's come to pass since then...
Posted by blogger at 8/01/2008