Thursday, November 20, 2008
Pseudo-president Jim Cramer proposes 8-point plan: Don't wait until Jan. 20
Well, “President” Jim Cramer ("Mad Money") announced his eight-point plan for saving the country from Great Depression 2 today, in a piece called "What I would tell Obama". We can’t wait for January 20’s inauguration of Barack Obama, or it will be the coldest day of the year (but in DC weather statistics say it's supposed to be). Obama needs to have a press conference now and announce Jimmy’s (Mad Money) plan.
His point include not allowing any more financial institutions to fail, guaranteeing all life insurance and annuities, giving tax credits for home purchases, insure the bonds of Fannie and Freddie (I thought it had done that). He would give aid to an auto company if and only if it does a Chapter 11 bankruptcy.
The recipe appears on “The Street” here.
Today, Democratic leaders in Congress seemed willing to talk to automakers again in early December, if the CEO’s learn their lesson and “pay their dues” (don’t fly private jets). Yet, the Dow tanked in a sickening last hour of trading.
Welcome to the United Socialist States.