Cramer's Stop Trading! Not a Whisper from Tim (2/23/09)

Stocks discussed on Jim Cramer's Stop Trading! TV Program, Monday February 23.

AIG (AIG), ChinaMobile (CHL), PetroChina (PTR)

Unanswered questions are destroying the markets, which are chaotic because of Treasury Secretary’s silence on crucial issues concerning the financial sector. “His recklessness is shocking,” Cramer said, and Geithner’s failure to act “will continue to be reflected in the averages.”

Meanwhile, it is no big surprise that AIG needs more money, and taxpayers will continue to support it for many years. Cramer called AIG the “biggest black hole in the financial system.”

China is succeeded where the U.S. is failing, said Cramer, who praised the country for its stimulus package that will “supercharge the economy” and the fact it has capital to deal with its problems. While China may be an engine, it doesn’t look like the U.S. is being pulled along. Cramer would consider buying China Mobile and PetroChina.

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Comments

[Lee Bush:]

Better Red than dead. Why am I not surprised?

Feb 24 07:58 AM

[James Wilson:]

Lord help !

Does the man need to hold someones hand 24/7 ?

This the 15 th Bailout since the 1920's.

Read up. All the Bailouts that have been laid on the U.S.Taxpayer.

Regean spent a few Billion helping to destroy the Soviet Union and we had to Bailout Russia !
Bailed out Eroupe 3 times.
Mexico 3 times.
South America 2 times.

This is not that expensive either.
The Savings and Loan Bailout cost as much or more.

Just ask KARL ROVE and JEB BUSH they handeled the Savings and Loan Bailout !!!!!

Feb 24 08:27 AM

[Drobezisi:]

China, an engine? Ah, let's get real here. China is as much an engine of US or world economic growth as the cart is before the horse. China can barely keep its domestic economy out of the 19th century, and the only thing that enables it to sustain a modern living standard is its booming export economy - which responds to consumer demand elsewhere. I do agree that the Chinese government's deep pockets and ability to create command-performance economic activity is impressive, but to expect the same kind of instant policy implementation in a pluralistic democratic economy is shockingly naive. There are things I agree with Cramer on. This is not one of them. The stimulus package that was signed into law (while too small and not focused enough) and the measures being taken on the housing front will help, given some time to work their way into the economy. They will create jobs and keep people in their homes, so that they can worry about engaging in producting economic activity. Will it happen overnight? No. We didn't get into this crisis overnight either, did we?

Feb 24 08:44 AM

[sumpter:]

CRAMER give us a break!! Go crawl back into the hole you came out off.
You and the rest of the cable heads think your experts and know how to fix all the worlds problems. You ARE THE PROBLEM so if you would just shut up things would improve. You complain that the administration is not being more positive and doing more cheerleading and at the same time you and the rest of the heads and right wing republicans are doing nothing but bad mouthing every thing the admistration is doing while You and your wall street Buddys are shorting the markets and putting out negataive comments and rumors so you can make big bucks. So don't blame it on the administration thats been in office for 4 weeks. Go out there and be more positive and cut out the negativaty

Feb 24 10:32 AM

[Bundee:]

"I think Bob Steel's the one guy I trust to turn this bank around, which is why I've told you on weakness to buy Wachovia." —Jim Cramer, CNBC commentator, Mar. 11, 2008

(Two weeks later, Wachovia came within hours of failure as depositors fled. Steel eventually agreed to a takeover by Wells Fargo. Wachovia shares lost half their value from Sept. 15 to Dec. 29.)

Need anyone say anything more?

Cramer has been far from accurate, far from helping this market and it seems far from being totally honest.

Give it a rest Cramer, Sienfeld's Kramer has more credibility than you do.

Feb 24 06:40 PM

[mr freddo:]

I'm with Bundee. At least Cosmo is funny. Cramer is like many stock pickers only worse. He touts a stock on one show and then a few weeks later, as the stock tanks, he backs off it. That way, when he is wrong, he is also right. Stock goes up? Yeah! Cramer picked it! Stock goes down? Cramer told you to be careful!

At least he doesn't charge a fee but his advice is every bit as damaging. I believe it was October when he told people to stay out of the market for 5 years if you needed the money. That encompasses about 99% of us. In that case why didn't he cancel his show for 5 years? He is still giving out long recommendations.

Feb 25 04:14 PM