Jim Cramer's Wall Street Confidential Aug. 6th
Cramer's Conscience
Defending his controversial outburst on Stop Trading during which he made an impassioned plea to Fed Chairman Ben Bernanke to cut rates, Cramer cited his years of experience, heads of mortgage lending agencies who are his friends and are "more frightened behind the scenes than they admit," his knowledge of what goes on at the trading desks, and his conscience. "As someone who is a history buff, who's spent a lot of time analyzing what happened in the Depression, spent a lot of time analyzing 1987 and 1990, I felt that there were people who knew that things were breaking down in the Depression," Cramer said. "They knew that the forgotten man was going to be forgotten ... Maybe this is one of those times where I'll look back and I'll say I had a platform, I had a pulpit, I had a chance to say something that would (help) the seven million homeowners who I think are very much exposed to this problem."
Defending his controversial outburst on Stop Trading during which he made an impassioned plea to Fed Chairman Ben Bernanke to cut rates, Cramer cited his years of experience, heads of mortgage lending agencies who are his friends and are "more frightened behind the scenes than they admit," his knowledge of what goes on at the trading desks, and his conscience. "As someone who is a history buff, who's spent a lot of time analyzing what happened in the Depression, spent a lot of time analyzing 1987 and 1990, I felt that there were people who knew that things were breaking down in the Depression," Cramer said. "They knew that the forgotten man was going to be forgotten ... Maybe this is one of those times where I'll look back and I'll say I had a platform, I had a pulpit, I had a chance to say something that would (help) the seven million homeowners who I think are very much exposed to this problem."
posted by Stock Administrator @ 9:27 AM
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