Word: cramers
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Historians trying to decide when the Panic of 2008 began may look to the morning of Oct. 6, when the U.S. government's vaunted $700 billion rescue plan barely slowed the market meltdown. The usually ebullient CNBC host Jim Cramer went on Today and implored, "Whatever money you need for the next five years, please take it out of the market right now." Retirees were frantic. Even Fed Chairman Ben Bernanke, his face a rictus of worry, said the economy probably won't improve until next year. Stocks veered wildly...
...Whatever the explanation - caution, confusion, failure to communicate - the upshot is that the straight business press has left a vacuum in explaining the consequences to the public. And that vacuum has been filled by professional gabbers like Glenn Beck and James Cramer, both of whom were predicting a possible Great Depression yesterday. They might well be right, but we've heard them get so excited about so much for so long, who can possibly know? The vacuum has also been filled by political columnists and pundits, some of whom (like Paul Krugman) actually know a lot about the subject...
...shorts hastened the demise of Lehman and AIG, cutting the off their oxygen when it was desperately needed. And some have laid the blame at the feet of SEC commissioner Cox. "Chris Cox is responsible for the largest destruction of wealth in U.S. history," hissed Mad Money maestro Jim Cramer on his CNBC show on Tuesday. "Because of Cox, the shorts won." (Republican nominee John McCain called Thursday for Cox to be fired - the same Cox some conservatives touted as a possible running mate earlier this year. President Bush said he fully supports his appointee...
...status of jazz at Harvard today: though most students are aware of its existence, few devote substantial time or serious attention to either its study or its performance. But the quote is not a description of the current jazz scene: it comes from a 1974 article by Jim Cramer ’77 in these pages, reviewing a Harvard Jazz Band concert with trombonists Phil Wilson and Carl Fontana. And although Cramer, who would be come The Crimson’s president, expressed hope that “Monday night’s concert will signal the beginning of Harvard?...
...casino, I understood the power of creating a new way for people to gamble. Someone might become interested in my bet and lose a car payment or, better yet, their child's college education. I got to control how people thought about their money. I now understood how Jim Cramer lost his mind...