Yes, I've inducted Jim Cramer into my Hall of Idiots......No, I haven't changed my mind. However, his recent writings defending himself from the administration are interesting. I try not to get political on this blog, so this story is a bit out of the ordinary. However since Cramer blasts the Left and the Right for their stupidity with this crisis I think we should be ok.
Cramer is actually right, yes, I said it. His criticism of both administrations is right on the money (no pun intended). How Paulson, Bernanke and Geithner could have seen the problems coming is beyond me - it was THEIR job to see it coming. They were asleep at the wheel. The current administration has decided at this point NOT to fix the underlying problem, instead believing that our economy can't recover without health care reform.....what?
Lending to people who couldn't pay back the money leads to a financial crisis and to solve it we should fundamentally change health-care? Sorry, but even the most devout Democrat (Jim Cramer) doesn't even buy it.
Its high time somebody decided to fix the actual problem, it actually isn't that complicated.
Scott Dauenhauer CFP, MSFP, AIF
