September 24, 2008

Good discussion on the bailout with Matthews, Pearlstein and Cramer



Cramer is salivating at a bailout. At the same time he's panicked if the package doesn't go through.

Hmmm...

Wonder why?


Get on record HP'ers - is this bailout going through?

39 comments:

Anonymous said...

Meet Jim Cramer, psycho-nut

Boo-yah!

Anonymous said...

L.A. Times/Bloomberg poll: Only 31 percent favor bailout

Anonymous said...

Crammer has stock with Goldman ,
need I say more . Crammer has always been a cheerleader for bail-outs for Wall Street ,need I say more . What kind of a show would Crammer have in a depression ,not a very good one .

Anonymous said...

yup, politicians have given Bush everything else he ordered them to give him, and didn't Buffet just pump 5 billion into Goldman Sachs why would he do that if he thought they would be out of business next week. if you think this is going to cost 700 billion you are dreaming more like 3 trillion after everyone in the world gets a piece of this. don't they call this a bohica. (bend over here it comes again) for those of you who don't know.

Anonymous said...

The 31% who favor the bailout, are probably the flippers and people who are underwater on their mortgages.

Anonymous said...

All money is a matter of belief.

If historian looked back upon this time will they said that this country functioned again, because savings were restored, and the values of hard work and decency that had accompanied the savings have returned the Credit Worthiness back to the US Dollar or will they said that this country fail to function again because no one value the meaning of hard work and saving did not matter because the people of this era was living on borrow time.

In a Crisis should morality be thrown out, and the many give in to the pressure of the few. That is for Congress to debate.

Today it seems it is all about can a bailout cause Hyper-Inflation and can no bailout cause a Great Depression.

What is worst a general collapse of housing prices and massive job lost due to a slow down in economic activity (Great Depression) or a rapid inflation in prices and the lost of the US Dollar as the reserve currency of the world (Hyper Inflation).

In the scenario of a Great Depression there is a come back play in that the economy can grow it way out.

In the scenario of Hyper Inflation will the US have enough CREDIT WORTHINESS to kept the status of the US Dollar as the reserve currency of the world.

bobby jones said...

cramer is in it for the money;

Anonymous said...

.

URGENT REQUEST ...


.

stevster said...

Let's wait and when the crisis doesn't happen we can all say it was just a joke.......we really didn't want to steal the money

Anonymous said...

Those guys make no sense - they say the government will buy those crap loans at a fair price, and then maybe make money on them.

If so then why aren't private investors buying those loans?

chslaxcoach said...

Of course it is going through. They just need time for each congressman to do the necessary grandstanding before the inevitable capitulation.

Paul E. Math said...

I've said it before, this bailout is going through. It will have a bunch of add-ons so that Congress can say that they are looking out for the 'americano'. But it's going through. Pukingly sick as that makes me.

suomynonA said...

So, let me get this straight...

(paraphrased:) "If we're talking about a single crap mortgage, well we know that's crap, but because the crap mortgages are packaged together, it's hard to understand, but it's not crap any more".

Haven't we heard this before?
http://www.youtube.com/watch?v=0YNyn1XGyWg

sandman said...

The Paulson plan is toast.

We will likely see some sort of "bailout" but it won't be Hank's plan.

les said...

I've watched Cramer, Liesmann, Kudlow and Bartrolomo on CNBC acting as though one must be an idiot not to believe in the bailout. I'm sure the others who work for CNBC are acting the same way.

There is something fishy, disingenuous about their behavior that is turning me off. I feel as though they are acting, and lying to the viewers. Maybe someone in GE--owner of NBC--told them to put a positive spin to this bailout.

I remember Maria saying "oh look, the markets are going up. It must be because the hearings just ended." Is that a normal reaction?

Robbie said...

I am seeing rising opposition. I am sensing and dont think this bill will get up.

Glenna said...

I am for the Bailout but only because it is the lesser of two evils and it should happen with micromanaging oversight. I also want to be on record saying that I believe Bernanke is the most complicit in this because I believe he used his expertise on the "Depression" to cover up the ensuing financial crisis rather than using it to help prevent it. Also Cramer is just a goon!

idiot said...

It looks like they want to keep us fixated on simplified worst-case scenario and the large numbers, but in the end after all the venting, will come some lower numbers approved but open-ended infinitely.

Bait and Switch, hey, I'm an idiot........

emmy said...

Some kind of bailout will happen, but I find it hard to believe that a credit line to the tune of $700 billion at a time will be extended to any loan that pops up is going to pass. Here's the problem with the Cramer/Pearlstein hypothesis. The market for all those houses does not exist any more. There were never enough people to buy all those homes at those loan prices iin the first place. That's why banks went subprime.They were generating a market artificially. And now, with the rise in oil, it is just not a good financial idea to buy a (big) house some where off in suburbia which costs a lot to heat, maintain, and drive to and from anywhere. It is never going back to the late 90's and early 2000's.
So there'll
be enormous economic contraction, and surely, people need to continue to work eat and be housed. The government is going to have to step in, but why give the gangsters more cash? Hell, you could take that money and do a lot better things with it then to make sure GoldmanSachs doesn't implode.
A lot of the socalled profits just didn't exist. You need to some order to this unwinding, and you can't give the money to one of the main theives. Wow, this is going to be just wild.

million said...

of course it will go through. remember, our country's greatest deficit is leadership.

Buffett made his play on GS, and that trumps any rhetoric from the Chinese wrt a diversified currency basket.

better question, what happens once it passes? $700 billion revolving door w/o veto oversight. are we looking at inflation, hyperinflation, or ludicrous speed inflation?

Cracker Cramer said...

How long ago did Fuktard Cramer do his little "just walk away from your home - pay your credit cards" rant that got national attention?

Then last night the piece of shit is all over Mad Money proclaiming how foreclosures are the problem and his plan will stop it.

FUCK YOU CRAMER!!!

Vince F said...

Jim "The Village Idiot" Cramer was the one who was screaming for the fed to lower rates. What did we get for that? Inflation! (oil and commods)

Lowering rates did not help the housing market. Nothing will. Giving 700 bil to Paulsen wont help either.

The "free" market got us into this mess, it will have to get us out.

Boom2Bust.com said...

Of course it will go through. Lest we forget, money (in this case, Wall Street) talks on Capitol Hill. Congress may appear "outraged," but all will be forgotten when that contribution check is signed, sealed, and delivered. Anyway, when you run in the same circles, you take care of your buddies, correct?

Anonymous said...

Last night on Mad Money cramer's begging for a bailout, threating there will be Ammagdon or else.

He is such a tool. He's being paid big time to broadcast the voice dictated by investment banks.

They can all go to hell.

Anonymous said...

Let's wait and when the crisis doesn't happen we can all say it was just a joke.......we really didn't want to steal the money



Exactly. It's a threat. Wall Street stomping their fists, demanding the taxpayer give them their bonuses.

If this bill goes through, it will be pitch fork time, guaranteed.

Metroplexual said...

I watched Cramer and Pearlstein (WaPo) last night on Hardball and they both want it but it seemed for different reasons. Pearl stein fro all the people on main street but Cramer was not too good at hiding his obvious allegiance to wall street.


Cramerica is all about giving more money to those who don't need it.

tangelo mozilo said...

These aren't just bunches of mortgages. They're LEVERAGED bunches of mortgages. I.e., an MBS that is leveraged 5 to 1 will be totally worthless after a 20% loss.

patrat said...

Oooo - good point tangelo mozilo. You are absolutely right! We will never get this money back.

Anonymous said...

Done deal.

Which politician wants to face "He did nothing" ads in a month?

joseph said...

I am in favor of it. The government will make a killing on the deal. I like Frank's plan. He is going to limit executive pay and has put in a back door such that any company participating in the plan has to allow a group of shareholders with a 3% stake the right to get on company's BOD.

This has been what has been killing America the last twenty years, an inability to have Boards of Directors who truly represent shareholders. The #1 requirement to be on a BOD is to think the CEO is underpaid.

Anonymous said...

Cramer says in sincere tones he wants a piece of the action, he'll buy five houses -- LOL. What a dick!

The true size of this bailout will dwarf even the most pessimistic estimates after they throw in all the other entities that "can't fail". $5T, $10T? Who the fu*k knows!

Paulson is like the sleezy guy who tells girls not to worry, he'll only put the head in. The sad part is our dumb-bitch Congress may actually believe him!

Daphne64 said...

I don't have the free time to watch all the C-span coverage of the hearings and debates, so ... I don't know.

I think there is a chance the house will flush the plan. They are a little more in touch with their constituents.

I get so angry when here the bailout proponents talking about how this will help main street by allowing businesses and individuals to borrow more money.

Very few of us would benefit by borrowing more money! We need help with our current bills! At any rate very few individuals would say, "yes it's worth my family's $12,000 share of this so we can get a lower interest rate on our next car."

The remaining smaller banks ought to be able to handle the greatly reduced borrowing needs of a Kondratieff winter.

If we're going to spend $700B, lets spend it on an orderly dismantling of the bad banks, efficient prosecution of the Hank Paulsons of the US, and helping build the kind of infrastructure we need - alternate energy research, research into all the "a" diseases our kids have now, a wall on our southern border, building factories so americans can earn money, low cost universities, etc, etc.

Anonymous said...

Revelations says all of the worlds riches will be gone in an hour. Hum, is it here or close?

Anonymous said...

Cramer is a scumbag

tater said...

That shitball Cramer is well, a shitball. He gets on that CNBC cheerleading channel and acts as if he is in it to help the little guy. No, he's in it for CRAMER. And, those people that call in are nothing more than employees and their friends, trying to make that golf-ball head look good.

Those gas bags on CNBC are nothing but cheerleaders trying to get you to buy in the Markets. If noone's buying in the Markets, then they're losing audience. That means GE loses money. Course, they never had me as a viewer anyway. Its a POS channel if you ask me.

Anonymous said...

Crammer's desperate: no bailout = his stupid banking bets go ka boom!

Anonymous said...

Cramer.

Friggin' cokehead.

Wouldn't buy a pencil out of a tin cup from that loser.

Anonymous said...

The bailout will most definitely go through. The entire crisis has been planned for some time. See G. Edward Griffin's "The Creature from Jekyll Island." Amazing book. Besides showing the history of the Federal Reserve, it chronicles all the bailouts. They are just part and parcel of a fiat currency, fractional reserve central banking ponzi scheme system. The plutocrats will benefit. They create a crisis, then there is the reaction, then they come out with the solution. 9/11 had its ready-made "Patriot Act," now the Economic 9/11 will have it's pre-packaged "cure." After the necessary political posturing, they will most certainly pass the bailout.

les said...

People need to write to NBC and get Cramer off the air. No one needs to listen to his idiotic rants anymore.