CNBC's Cramer: New York AG Cuomo a 'Communist' 'Mad Money' host complains liberal, pro-regulatory attorney general destroying the lending market.
By Jeff Poor Business & Media Institute11/7/2007
News story after news story has warned of the dangers to the housing mar
ket. The Democratic response is more regulation. CNBC’s Jim Cramer blasted that strategy in his “Stop Trading” November 7 “Street Signs” segment. He labeled New York Attorney General Andrew Cuomo a “communist” who “wants to shut down the mortgage market.”
“[W]itness the fact that right now, the most important man in America for the stock market – the most important man and I mean it negatively is this guy Andrew Cuomo, the New York State Attorney General,” Cramer said. “I’m getting tired of the New York State Attorney General being the most important man in America.”
Then Cramer really went on the attack, even comparing Cuomo to his politicized predecessor Eliot Spitzer. “Cuomo’s about confiscation – genuine communist,” Cramer said. “The Chinese are capitalists, we got a communist.”
News story after news story has warned of the dangers to the housing mar
ket. The Democratic response is more regulation. CNBC’s Jim Cramer blasted that strategy in his “Stop Trading” November 7 “Street Signs” segment. He labeled New York Attorney General Andrew Cuomo a “communist” who “wants to shut down the mortgage market.”“[W]itness the fact that right now, the most important man in America for the stock market – the most important man and I mean it negatively is this guy Andrew Cuomo, the New York State Attorney General,” Cramer said. “I’m getting tired of the New York State Attorney General being the most important man in America.”
Then Cramer really went on the attack, even comparing Cuomo to his politicized predecessor Eliot Spitzer. “Cuomo’s about confiscation – genuine communist,” Cramer said. “The Chinese are capitalists, we got a communist.”
The big question that nobody seems to be tryin' to answer is; "After us poor tax payers spent billion$ and billion$ bailing out the home lending crooks and racketeers just a few years ago, how in the name of Hannah's goat did we get in this shape again so fast?" Seems like I recall all manner of changes - from appraiser qualifications to lending formulas.
This is worse'n the way we keep rebuilding houses for folks so stupid they live on the beach, on a constant flooding river bank, or in a city below sea level. Go figure! Color me plumb perplexed!
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