Friday, April 23, 2010

Note to Goldman Sachs

Saying your murky "synthetic CDO" deals are "common practice" is not an effective defense to victims of those deals.

Saturday, March 14, 2009

Stock Traitor, Jim Cramer, get his on the The Daily Show. Yes!

Saying sell on TV in a down market is like saying fire in a crowded movie house. I think the latter is criminal. Why isn't the former?

It baffles me how this guy has been able to show his face in public since pumping Bear Stearns the day before it tanked.

In the past few months, I've been asking myself what is this guy still doing on the Today Show giving advice about the market? Hasn't he been thoroughly discredited by now?

That's the real crime: that people listened to this clown in the first place.

I admit I tried watching him without actually buying anything for a while but found him to be really wrong a lot and I moved on. Why did everybody else not do the same?

Lately, it hasn't mattered much who people listened to or what they did. This crash is so big that retreating to Berkshire Hathaway and Treasuries has been no picnic either.

Regardless, it is a pleasure to see one participant in this orgy of hubris, from the last 8 years, get asked for some sort of accountability. The only problem is that it just wets my appetite for more. Can somebody go "Frost Nixon" on Cheney, Rumsfeld, Bush I, Bush II, Greenspan, every one of the over-confident CNBC reporters that helped herd investors off a cliff. The list goes on.