Jim Cramer: 5 To 10 Days Until Cash Dries Up

By  | 

The following video scares the absolute $#!+ out of me, and I don’t really scare that easily.

Because what we’re talking about at this point is our own personal liquidity. Cramer (famous for being the wily host of Mad Money, but a serious money manager in his own right) is saying that if something doesn’t happen soon then some BIG banks will fail and institutions like the FDIC may not be able to help us because they’ll be overwhelmed.

Seriously, watch it.

The upside? We could actually make money on this deal. Or we could lose $200B.

Still, are the Repubs and Dems taking too long drafting legislation?

  • gerryf

    No, they are not taking too long. The only kind of decisions made in a hurry are bad ones.

    There is nothing about the current situation that makes me feel comfortable, but it is obscene to ask a person like Paulson who as part of Goldman Sachs is as much a part of this mess as anyone, to tell us how to get out of this mess.

    This is insane.

    Cramer only cares about making more money–his thinking is short term. The idea of losing money is pure panic for him.

    We need to be careful with this crisis, not rush into it blindly like everything else this administration has pushed….and we know how well that has worked for us.

  • T. Harmon

    Cramer may be right about the outcome and consequences of this crisis. That is the risk we take when we have power concentrated in a Central Bank and fiat money only backed by faith, but I completely disagree with Cramer’s support of this solution.

    I think the U.S. will go through tremendous financial turmoil without the bailout. However, the bailout would cause a serious loss of Constitutional freedom which we enjoy as Americans. The Administration may very well believe the motivation of the bailout is to save the system and benefit the US taxpayer. But ultimately, this is a giant powergrab and is socialistic intervention only meant to preserve the rich and the powerful. The cost is much dearer than $700 billion. The cost is our freedoms.

  • rachel

    I’d rather get my financial advice from a monkey flinging poo at the NASDAQ, listings than Jim Cramer; he’s the example people point to when they say, “A little knowledge is a dangerous thing.”

  • Doug Mataconis

    March 11, 2008 — Jim Cramer tells his views that they shouldn’t be worried about Bear Stearns and the value of their stock in that company:

    March 17, 2008 — JP Morgan Chase buys Bear Sterns at a fire-sale price after the company nearly collapses:

    Any questions ?

  • Doug Mataconis

    Not to say that there isn’t the possibility of a real disaster in the making here, but Jim Cramer is not the man to listen to.

  • Bob Aman

    Yeah, I’ll second (or third) all the commenters going, “Jim Cramer? Why would you ever listen to him?

  • rob

    But, he wears cool hats and does jumping jacks on screen, what do you mean he’s not credible?

  • whynot

    You watched as Americans were raped by Wall Street for bogus mortgages, gas runups.

    Why don’t you do the American thing and give yuur salary.

    You all should be put in jail