Britishsteel

Fuld to Wall of Shame - Cramer's Mad Money (9/9/08)

Cramer you are full of it , the decline in commodities is due to the lack of liquidity . Lehman has been cut off from credit so they had to unwind positions that helped create the bubble that rose from investment banks being allowed to borrow from the discount window. They were granted this privilige so they could unwind their bad bets in the subprime market , along with other investment banks. Instead they used the money to hedge their losses by driving up commodities. and once they were givien a margin call when oil went against them every other hedge fund that joined that crowded trade had to unwind too. And soon they will start that trade up again and oil, gold and silver and coal will reach new highs. China still needs certain commodities although steel is not needed now due to global slowdown. Stop lying to everyone will ya?