One Of Those Greedy Filthy Rich Wall Street Republicans Explains How He Gamed The System For Fun And Huge Profits

3-11-09

How’s that media and Obama administration spin go again? Oh yeah that greedy capitalist mixed economy system we have used to have here in the U.S. is what has brought the country to her financial knees. Their mantra continues on that we need the same worthless idiots in the government that jacked everything up in the first place to come to our so called “rescue.”

They may not always come out and specifically say it but like so many other blatant insinuations tossed out there to the ill informed public these folks always try and make it look like it’s the Republicans pulling off all the shenanigans. Never mind that it was clearly the Democrats that gave us this house of cards called the home mortgage fiasco that will cost all of us that have been doing the right thing all these years hundreds of billions of dollars and was the catalyst for the economic situation we are now screwing around with. That said when your political party manages to manufacture a crisis, especially a doozie like this current economic boondoggle, never ever let the situation go to waste.


So who is the greedy filthy rich Republican caught on tape describing how easy it was for him to manipulate the stock market? I don’t know but we do have Mr. Liberal himself, Jim Cramer, giving us a little walk through on how to have fun and play games with the market while making incredible amounts of easy money.

Recently Cramer has been having a little face slapping contest with the White House over some of his critical comments concerning the utter failure of Obama and his people to get their act together and get this economic mess flipped around. Something these clowns don’t seem to be in much of a hurry to accomplish. Aside from that Cramer is firmly in Obama’s camp and supports just about every single one of his policies.

In this video Cramer says he regularly manipulated the market when he ran his hedge fund. He calls it “a fun game, and it’s a lucrative…game.” He even suggested all hedge fund managers follow his game plan. “No one else in the world would ever admit that, but I could care less . I am not going to say it on TV.”

He also calls Wall Street Journal reporters “bozos” and says behaving illegally is okay because the SEC doesn’t understand what is going on anyway.

-On manipulating the market: “A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,”

-On falsely creating the impression a stock is down (what he calls “fomenting”): “You can’t foment. That’s a violation… But you do it anyway because the SEC doesn’t understand it.” He adds, “When you have six days and your company may be in doubt because you are down, I think it is really important to foment.”

-On the truth: “What’s important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view – it is important to create a new truth to develop a fiction,” Cramer advises. “You can’t take any chances.”

One can almost close one’s eyes and imagine this was George Soros talking…..can’t one?

This entry was posted in Economy, U.S..

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