Cramer's Stop Trading! Bernanke Allegations Are Baseless (6/24/09)

Stocks discussed on the Jim Cramer's Stop Trading! TV Segment, Wednesday June 24.

Many people might find reasons to criticize the Federal Reserve, but it is "outrageous" to question Ben Bernanke's integrity, said Cramer. Rep. Darrell Issa of the House Oversight and Government Reform Committee accused Bernanke of forcing a merger and hiding strong-arm tactics used to put pressure on Bank of America. Once an outspoken critic of Ben Bernanke, Cramer now praises him for a "remarkable job" he has done and applauded his decision Wednesday to keep interest rates unchanged; "There wasn't anything here that'll make you want to sell the market down," Cramer said, "other than the fact we just had someone say the Fed chairman should basically resign."

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Comments

[apppro:]

Whether baseless or not ( and I feel they have a very small link to reality), what still is NOT being looked at or even talked about, is how "The Shorting of America" was the 'cause' of all of this. Why are we letting a handle of narsarsisstic shorts get away with all of this? The blatant naked shorting, rumorboarding, gangshorting, etc. that occured was not only the cuase, but also determined the outcome. Things didn't have to get this bad, except for the greed of a few. Why have these guys been elevated to God status and not prosecuted for the criminals they are?

We're going after to the only people who were willing to stop the insanity, not the people the caused it.

Who lobbied the SEC to get rid of the uptick rule?
Who lobbied FASB to institute M2M?
Who devised mortagage default sceanrios (that still have not occurred) that created an atmosphere of fear and mistrust?
Who has been feeding certain politicians with contrived scenarios?

Jun 25 07:19 AM

[hewolf:]

Finally someone important has said something negative about Bernanke and hopefully this will lead to more open discussions about this man.
When Bernanke even mentioned the possibility about printing fake money and dropping those fake bills over Wall Street he should have been removed from office and should never have been considered for something so important as a key Federal Reserve job.
Bernanke will get his place in the history books as one of the 2 twin Federal Reserve idiots (besides Greenspan) who destroyed the Worlds Reserve currency, the United States Dollar, by recklessly printing and distributing Monopoly money as real money.

Jun 25 08:17 AM

[apppro:]

I'm not a gaga teen fan of Bernanke either. He's just another college professor, who couldn't get a job in the real world. BUT, you're wrong on the current assesment. Greenspan allowed all that excess. His ignorance or alzhiemers, created all the leverage - not Bernanke.
What Bernanke was FORCED to do was to put money back into the system that the shorts FORCED the banks to pull out.
Someone had to take control of the insanity - we're lucky we had him.

Right man in the right place, but unfortunately for him, at the wrong time.


On Jun 25 08:17 AM hewolf wrote:

> Finally someone important has said something negative about Bernanke
> and hopefully this will lead to more open discussions about this
> man.
> When Bernanke even mentioned the possibility about printing fake
> money and dropping those fake bills over Wall Street he should have
> been removed from office and should never have been considered for
> something so important as a key Federal Reserve job.
> Bernanke will get his place in the history books as one of the 2
> twin Federal Reserve idiots (besides Greenspan) who destroyed the
> Worlds Reserve currency, the United States Dollar, by recklessly
> printing and distributing Monopoly money as real money.

Jun 25 08:29 AM

[Britishsteel:]

APPRO THE SHORTING OF AMERICA??? by WHO GOLDMAN SUCKS? CRAMER HOW ABOUT YOUR PHRASE WE NEED A LITTLE LESS DEMOCRACY? YOU ARE DONE COMRADE CRAMER. YOU HAVE NO VALIDITY NOR RELEVANCE. YOU THE GUY WHO GOES ON RECORD AS HAVING MANIPULATED THE MARKETS YOUR SELF?

Jun 25 09:29 AM

[vomitus:]

To 'Shorting of America':
You propably believe in devine creation too. I am so sick of this neoliberal, neoconservative, freedomfighter mentality- To all those cocksuckers I say get out of the way and leave the free world alone. If you decide to stay in the game keep your head low and live the truth, ie you and your Ann Coulter and Art Limbaugh fans get used to the fact that you are marginalized about as unnecessary as a boil on your arse.

Jun 25 09:57 AM

[Britishsteel:]

bottom line is prosecute em all of em , treason against the united states of america through the veichle of financial terrorism

Jun 25 10:35 AM

[Steve Soden:]

We The People need to start thinking.
If Cramer says anything is true or false it's probably the opposite of his position that is true.

Jun 25 11:37 AM

[whenmusicstops:]

'Fake Money' allows you the "freedom" to live in your domicile and transport yourself with your auto to your workplace which is equally leveraged in its pursuit of 'growth'...The world IS leveraged sir.




On Jun 25 08:17 AM hewolf wrote:

> Finally someone important has said something negative about Bernanke
> and hopefully this will lead to more open discussions about this
> man.
> When Bernanke even mentioned the possibility about printing fake
> money and dropping those fake bills over Wall Street he should have
> been removed from office and should never have been considered for
> something so important as a key Federal Reserve job.
> Bernanke will get his place in the history books as one of the 2
> twin Federal Reserve idiots (besides Greenspan) who destroyed the
> Worlds Reserve currency, the United States Dollar, by recklessly
> printing and distributing Monopoly money as real money.

Jun 25 02:17 PM

[kgeechee:]

Right On, apppro!

The Shorts, Hedge Funds, greedy Corp execs, and Thieves posing as Money Managers:
Hang 'Em High
and feed their Bones to the Buzzards!

Help Bring Investing, not Gambling, back to Wall St or say "Good Bye" to Main Street.


On Jun 25 07:19 AM apppro wrote:

> Whether baseless or not ( and I feel they have a very small link
> to reality), what still is NOT being looked at or even talked about,
> is how "The Shorting of America" was the 'cause' of all of this.
> Why are we letting a handle of narsarsisstic shorts get away with
> all of this? The blatant naked shorting, rumorboarding, gangshorting,
> etc. that occured was not only the cuase, but also determined the
> outcome. Things didn't have to get this bad, except for the greed
> of a few. Why have these guys been elevated to God status and not
> prosecuted for the criminals they are?
>
> We're going after to the only people who were willing to stop the
> insanity, not the people the caused it.
>
> Who lobbied the SEC to get rid of the uptick rule?
> Who lobbied FASB to institute M2M?
> Who devised mortagage default sceanrios (that still have not occurred)
> that created an atmosphere of fear and mistrust?
> Who has been feeding certain politicians with contrived scenarios?

Jun 25 03:02 PM