Jim Cramer's August 2007 outburst is a must watch!
I am not usually a fan of his style, but in this case, his outburst was justified and eerily prescient!
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I particularly enjoyed his position on Bear Stearns: http://www.youtube.com/watch?v=gUkbdjetlY8
Long time reader…
I have been addicted to watching his perspective as things continue to unravel, but I was annoyed with him prior to seeing his outburst.
But Cramer was calling for a rate cut! That would have made the problem go away for a little bit, but would have made it worse when it happened. As long as people think that they will be bailed out, they have an incentive to gamble.
Byrne:
I am not saying I agree with his recommendation (I don’t), I am just impressed that he went out and said how bad things really were before most people started talking about it.
Sheesh Fabby you are behind the times on this one! I was on the air immediately after his rant forwarding to friends in Aug 07. I like Jimmy’s intensity even though he is a professed left of center he favors oil drilling.