Cramer on AIG Rescue

Jim Cramer says the Federal Reserve's bailout of AIG has helped us avoid an economic depression.

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• rescue
• sho
• stocks
• uptick

[aretzz]

BLA BLA.. he said Bear Stearn's was fine, a few weeks after Fed bailed it out.

This guy is a clown.

[uturniaphobic]

the mantra of "capitalism" is to tax those who wish to gain in a venture and not tax the labor.

The tax is used to better the community.

Long forgotten info....

[camaro105]

@Andreas748 Here is how is would have been: AIG starts out by being 5 billion in the hole. Goldman, JP Morgan, Stanley, HSBC, Barclays, BofA, etc all want to collect on their CDS's. AIG says "we dont have the capital to fund those CDS's". Each bank records massive losses on the same day and at the same time..due to the lack of payment of the CDS's. Once the banks record the massive losses on their own books, they pretty much go under too. Short sellers would kill them. AIG fails, all fails

[gLdFsh3787]

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[ElDiabloWhoppo]

Jim Cramer is the worse kind of doucebag.

When he was a 'private operator' he admitted to dirty tricks and illegal activity in an attempt to make bucket loads of money.

Now that he has made his money and never has to work again (except for his own ego) he claims to give an honest opinion to look after the average Joe Sixpack.

Its like a wolf giving advice to sheep on how to protect themselves from wolves

[Andreas748]

@camaro105 .....let them fail. Other insurance companies would've stepped in. Sure it would've been bad, but taking the medicine back then is what was needed. Hank Greenburg telling Erin Burnett.... "AIG is a national treasure....we can't let it fail".....what a croc. She laughed at that comment

[camaro105]

I have my BEC and my professor has his Phd in econ and the way he explained it was that AIG insured capital for banks. If AIG failed, then no insurance for banks and capital. AIG's CDS insured half of the western banking system. If they failed, so does almost every bank. Banks like Barclays, HSBC, Goldman, Stanley, Citi, etc would have all failed because AIG insured their capital. AIG fails, U.S. depression and global depression would have hit hard. Do research people. Know the company!!

[mrwas2000atgmailcom]

Lenny Dykstra! Ha Ha

[PortfolioManager1987]

Cramer's worst "Buy" call in history right here^

Stocks tanked 25% after this..

[Einstiensblackid]

It isn't a dumb statement. CDS are an insurance policy banks used to protect against their reckless lending. But the company who sold the most CDS's is now broke.

In other words those CDS's are worth nothing.

[uturniaphobic]

great, name calling...4th 5th grade?

and why did the price of a home escalate out of reach the last 6 years? did someone say slut-credit. Oh but no one wanted to say ANYTHING while stuffing their pockets. CRUSH 'EM! or we do it again..."idiot" how robust a remark