Nov. 14 (Broomberg) -- Jim Cramer, Action Alert PLUS and TheStreet.com's largest shareholder, said in the letter to Treasury Secretary Henry Paulson that the government should consider allowing Cramerica access to the TARP.
“I don’t care where stocks are going, I care where they were a year ago, and I don’t want people to stop watching Mad Money,” Cramer told Curry. “I’m worried about my employment, I’m worried about my Amazon.com ranking. I can’t have you at risk over at Fox Business.”
Ratings have declined 6 straight months on CNBC's "Mad Money." ``My charitable trust is in the crapper from all the Goldman Sachs shares I was buying above $200 and my subscription services are in decline.", Cramer said while sipping some cheap scotch. ``It takes everything I have now just to say booyah."
When asked how long Mad Money could last if it did not receive a bailout, Cramer screamed from the linoleum floor, ``Do you want me to go on the Today Show again and body drop this market?!? THEY'RE NUTS, THEY KNOW NOTHING. THIS IS ARMAGEDDON!"
*UPDATE*
Frank Says Congress Will Weigh Cramerica Stimulus Plan (Update2)
Nov. 16 (Broomberg) -- The U.S. Congress will consider a Cramerica stimulus package , House Financial Services Committee Chairman Barney Frank said.
``We are going to do a stimulus this week,'' Frank, a Massachusetts Democrat, said on the ABC News today. ``We're not asking the taxpayers to throw good money after bad,'' and that there will be ``protections about getting it repaid,'' adding that it was too early to discuss bill details. ``The consequences of not doing it will be worse. A collapse of Cramerica would be the worst possible thing that could happen at a time when we are already weakened." Despite what would appear to be a rush to get a bill out Frank explained, ``I assure you that the same amount of time will go into this bill as any other. It was just cramed into a few days. We will have a bill ready to put in front of Congress by Wednesday. However, due to an upcoming Jewish holiday we will not be able to vote on this emergency legislation until the following week."
``We definitely need a stimulus package,'' Senator Charles Schumer, a New York Democrat who heads Congress's Joint Economic Committee, said on CNN. ``Cramerica is in real trouble and a stimulus package makes real sense. The only way we are going put a floor under the market is to put money into the hands of Cramerica, who will no doubt buy stocks. This guarantees money will flow back into the market instead of imprudent hoarding like the banks are doing." Senator Dodd and House Speaker Nancy Pelosi also gave the plan a nod.
Nov. 16 (Broomberg) -- The U.S. Congress will consider a Cramerica stimulus package , House Financial Services Committee Chairman Barney Frank said.
``We are going to do a stimulus this week,'' Frank, a Massachusetts Democrat, said on the ABC News today. ``We're not asking the taxpayers to throw good money after bad,'' and that there will be ``protections about getting it repaid,'' adding that it was too early to discuss bill details. ``The consequences of not doing it will be worse. A collapse of Cramerica would be the worst possible thing that could happen at a time when we are already weakened." Despite what would appear to be a rush to get a bill out Frank explained, ``I assure you that the same amount of time will go into this bill as any other. It was just cramed into a few days. We will have a bill ready to put in front of Congress by Wednesday. However, due to an upcoming Jewish holiday we will not be able to vote on this emergency legislation until the following week."
``We definitely need a stimulus package,'' Senator Charles Schumer, a New York Democrat who heads Congress's Joint Economic Committee, said on CNN. ``Cramerica is in real trouble and a stimulus package makes real sense. The only way we are going put a floor under the market is to put money into the hands of Cramerica, who will no doubt buy stocks. This guarantees money will flow back into the market instead of imprudent hoarding like the banks are doing." Senator Dodd and House Speaker Nancy Pelosi also gave the plan a nod.
After learning of the news, Cramer released a statement on TheStreet.com saying "Ba-ba-ba-ba-BOOYAH! THEY KNOW SOMETHING!".
