TheStreet.com’s Jim Cramer Meltdown

August 11, 2007

 

Granted, it takes some effort to make money maerkets sexy, so TheStreet.com’s CEO has to really hustle his little tush on his tv appearances. But … really. SmartMoney’s take on the infamous Cramer Meltdown, in which Alley survivor Jim Cramer went a little gonzo:

 “Ask most investors this week what that term means to them, and I know what most will say. Some will talk about the volatility in stocks. Some will talk about the casualties from subprime mortgages.

“But most will talk about James Cramer’s late afternoon appearance last Friday on CNBC, what amounts to an on-air tantrum about what he called the ‘Armageddon’ going on in markets. If you’re one of the few people in the world who hasn’t seen it by now, I recommend you catch a replay. Clips of it are all over YouTube (for instance, here). It’s definitely worth watching.

“Last Friday stocks were falling hard when Cramer went on the air, and they fell even harder once his tantrum got underway. There’s not much room for doubt that Cramer’s comments — basically, that the subprime mortgage problem in the credit markets is far worse than anyone is willing to say publicly, and will lead to an economic catastrophe — caused some investors to sell stocks.”

We recommend sending TheStreet’s CEO to his room without his blankey after a stern talking-to.

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