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Originally Posted by AladainAF  Cramer dropped the ball for sure. However, he is correct that he cant tell everyone "Get out get out!" Think of it this way. What if you worked for company X, and then one day Jim Cramer decides to go on the air in front of the american people and say "Company X is doing horrible, and they are going to be worthless soon, GET OUT GET OUT GET OUT *scream some, throw things*". He could potentially be sued by all of the employees who lose millions combined because the stock tanks, and then the company goes out of business, regardless of how bad of a shape the company X was in before.
NO ONE is perfect on the stock market. People screw up all the time. Its your responsibility, and not Jims, to do your own homework. Hes there for just a television show, just like all the other shows on CNBC, except the ones that are on actually -during- the market open. |
What about all the people who lost all their money by staying in? They could just as easily sue him. I'm not really what your point is, if a stock/company is tanking everybody loses, really in the end the company should be looking out for it's investors not keeping the sham going.
From my perspective the US economy has been heading towards tanksville for a long time. The Canadian government in the early 90's decided that they had to balance their budget, it was the only way that we were going to be sustainable or even survive when/if things went to shit. We now sit with a comfortable level of over taxation and a nice amount of money in reserves if shit does hit the fan.
Out of all this the thing I'd be most pissed about as an American citizen would be the fact that the banks were allowed to usurp the laws put in place to protect you from just these kinds of situations. I guess how many people have to lose their home before people start freaking out and taking to the streets saying "Why the did this happen to me?"
You just can't borrow forever and never balance the budget and expect things to work out, US government after US government has been making it the next persons problem to sort out the financial situation and no one has stepped up. There is going to be a major correction, Canada is probably going to tank with it but maybe not as bad.. it was coming.. it was in the works. You can't borrow money from thin air and inflate at your own discretion and expect this not to happen. I'm pretty sure I read an article just shortly after Canada balanced it's budget with Alan Greenspan using Canada as an example of what would have to happen in the US if they wanted to stay in their current financial power house position, I guess nobody was listening.
Funny lots of people are willing to listen now..
