I got to tell you, you know, I understand you want to make finance entertaining. But it’s not a fucking game. And—when I watch that [video of Cramer describing hedge fund tricks], I get—I can’t tell you how angry that makes me. Because what it says to me is: You all know. You all know what is going on. You know, you can draw a straight line from those shenanigans to the stuff that was being pulled at Bear and at AIG and all this derivatives market stuff… These guys at these companies were on a Sherman’s march through their companies, financed by our 401k’s. And all of the incentives of their companies were for short-term profit. And they burned the fucking house down with our money. And they walked away rich as hell, and you guys knew that that was going on.
Saturday, March 14, 2009
Stewart Nails It
For a guy who is not in the business, this is an incredibly shrewd analysis.