Cramer's Stop Trading! What's Good for General Motors (11/5/08)

Recap of Jim Cramer’s comments on Stop Trading! Wednesday November 5 

General Motors (GM), Ford (F),Verizon (VZ), AT&T (T), Comcast (CMCSA), Time Warner (TWX)

To get the automotive industry running again, Cramer suggest the government do an AIG-style bailout and buy up billions of common and preferred stock in auto companies. "The government buys a giant stake in GM, the common stock doesn't do well, but bonds do really well," he said and added, “I know this sounds like socialism, but after what Paulson’s done where the U.S. is the third-largest banker in the country, can we just suspend belief that it’s socialism?”

“They will not be allowed to go bankrupt,” Cramer continued. “Not one of them. It’s too big for Main Street.” He also suggested the government lighten up on immigration restrictions and buy up a million homes, take them off the market, and let immigrants buy them at low rates.

Finally, Cramer said he is bullish on cable plays VZ, T, CMCSA and TWX.

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Comments

[PeteK:]

Disagree. Only if GM promises to move South, and starts everything new.
That way, GM may survive & grow. Otherwise, history will just repeat itself as always. Others are doing well in the South, why not GM ? Cramer, remember the Black Hole you talked about ?

2008 Nov 06 05:48 AM

[guitphil:]

i especially like this part...

"He also suggested the government lighten up on immigration restrictions and buy up a million homes, take them off the market, and let immigrants buy them at low rates."....

WTF? isn't that how we got into the housing to begin with! and people tune into this guy for what? unbelievable...

2008 Nov 06 06:34 AM

[A Doo Bee:]

Lovely, Bloody lovely.

Take American tax dollars and put them to work buying houses for immigrants.

Doesn't Cramer know the only reason the immigrants come is to make some money, build a bankroll, build a house in Guatemala and return there to live like kings?

I don't mind, because they work hard while they are here and provide a ready supply of unskilled labor. Is it Cramer's intention to make them dependent on the state just like the rest of America's poor?

(me thinks Cramer is looking for a place in Obama's Cabinet)

2008 Nov 06 06:57 AM

[Ishortyou:]

those socialist communist democrats...blah

2008 Nov 06 08:35 AM

[maximaboy:]

Agree, let's buy a million homes for immagrants and continue to let Americans who actually pay taxes stay out in the cold...Cramer is a d*umb*ss! I've lost more money listening to him than I've ever thought about making and he continues to spew bs.


On Nov 06 06:34 AM guitphil wrote:

> i especially like this part...
>
> "He also suggested the government lighten up on immigration restrictions
> and buy up a million homes, take them off the market, and let immigrants
> buy them at low rates."....
>
> WTF? isn't that how we got into the housing to begin with! and people
> tune into this guy for what? unbelievable...

2008 Nov 06 09:21 AM

[sstro:]

Like anything people say you have to take it with a grain of salt. What I didn't like hearing was giving the homes to immigrants cheap. How about including people who were born here and are able to afford a house with a reasonable interest rate and have 20% for a down payment. If you lost money by just listening to Cramer then you were hoping for a quick buck and failed to do due diligence.

2008 Nov 06 09:44 AM

[d tyler:]

are you on crack--let illegal immegrants have our homes. I liked you - you are just full of crap

2008 Nov 06 10:08 AM

[ARNOLDS134:]

another great socialist idea ,reward the loafers ,hate tio work crowd .and tax the working class .we well onthe way to being a 3rd class nation god help us

2008 Nov 06 10:24 AM

[jackooo:]

Cramer the comedian.................

Let's buy every illegal a house and all Americans leave the country. What say you Cramer....??

2008 Nov 06 10:27 AM

[quikdraw:]

Hell I like the idea.
look forward to having a mason
laborer on one side, Gardener on the other. DW.
can learn to cook, la'tino

2008 Nov 06 09:26 PM

[fidoshark:]

Buy now because when the bailout comes there will be a giant bounce. then sell. this is what the smart money is doing

2008 Nov 10 12:42 PM