Cramer: “Bernanke, wake up”

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Mad Money host Jim Cramer made a passionate, and quite amazing, plea to Federal Reserve Chairman Ben Bernanke on CNBC yesterday. He urged Bernanke to cut interest rates and, in turn, help the market and the people who were losing their jobs on Wall Street.

This is video footage at its alarming best: entertaining and controversial, with all the potential of causing furious debate. After all, Jim, is it the Fed’s role to come to the rescue of investment banks at the first sign of trouble after years of record-breaking profits?

[youtube=http://www.youtube.com/watch?v=rOVXh4xM-Ww]

Source: www.cnbc.com

Also read good friend Barry Ritholtz’s comments on Cramer’s tirade on his Big Picture blog.

Cramer perhaps has reason to be ranting and raving, at least the price charts of a number of investment houses seem to be telling a pretty sad story.

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Source: StockCharts.com

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Source: StockCharts.com

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Source: StockCharts.com

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Source: StockCharts.com

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5 comments to Cramer: “Bernanke, wake up”

  • Maximus

    Ok Jim, but really, the Fed is only in charge of a Scam called Fiat Currency. Let the markets (people and capital interests) decide what is excess and what isn’t. What’s bid and what’s asked. Come on… asking Bernanke to help is like asking the wolf to come into the chicken coup to decide which ones live!

    Maximus.

  • codesuidae

    Fiat currency is not itself a scam, it is a necessary tool to ensure price stability and sufficient money supply in a large economy. However, fractional reserve banking and the Federal Reserve system are, if not outright scams, definitely contributing to the problem.

    Unfortunately these elements of the system probably cannot be changed, they are too fundamental to how the system works.

  • goodnews1us

    Cramer is right on this time.
    Too long the Fed has viewed inflation as their only target. They even have the audacity to view a rising stock market as “inflationary.”
    Thus, they have become the enemy of growth. Thank God someone has the courage to confront them.

  • “No matter how you slice it today’s market ranks among the most expensive in the last hundred years when considering value, whether it be P/E ratio, dividend yield, book value or cash flows…Today we have and entire generation which has never experienced an era of cheap stocks, their education, no doubt, will end in an MBE degree ─ Master of Bear Education.”
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    Eduardo Mirahyes

    Exceptional Bear

    http://www.Exceptional-Bear-Market-Letter.com/

  • […] under Markets , Wall Street , Investment , Economy , Finance , Humor , Money , Business  The video clip of Jim Cramer ranting and raving about the credit squeeze stirred up huge interest in the financial […]

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