Cramer's Stop Trading! Geithner and Bernanke Are Doing a Remarkable Job (8/24/10)

Includes: DIA, QQQ, SPY
by: Miriam Metzinger

Summary of Jim Cramer's Stop Trading! TV Segment, Tuesday August 24.

House Republican Minority Leader John Boehner of Ohio's statements that President Obama should get rid of his economic team, including Treasury Secretary Tim Geithner are "outrageous," according to Cramer; "Geithner's done a remarkable job." Cramer went on to praise Geithner for rebuilding the U.S. banking system and creating a a system that "frankly, would withstand 1930s-like depression.”

I’m not happy with Obama’s policies,” Cramer said, “but I don’t sense at all that it’s Geithner’s fault. And I sure hope that whatever happens he stays.”

Concerning the rest of Obama's economic team, Cramer asked, "Where are they?"

He also thinks Fed Chairman Ben Bernanke is an excellent student of economic history and "understands deflation better than anyone."

Cramer credited both men with preventing a "garden variety depression" from becoming a "very serious depression."


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