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Cramer Leads Bleating Wall Street Sheeple

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December 10, 2007 – Comments (7)

in whining for a half point rate cut. It won't do anything except, possibly, fuel another short ralley until the December retail numbers show up and drop the bottom out of a lot of stocks, but at least the Wall Street traders will be able to close the year with some green.

7 Comments – Post Your Own

#1) On December 10, 2007 at 5:10 PM, sporega (< 20) wrote:

I always love a good rate cut don't you when it is saving your ass.

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#2) On December 10, 2007 at 5:38 PM, abitare (35.89) wrote:

Am I crazy, but doesn't the FED destroying the dollar in order to inflate the stock market have a longer term negative impact? Why are all these people on CNBC crying for a dollar destroying rate cut?

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#3) On December 10, 2007 at 5:46 PM, Imperial1964 (97.83) wrote:

We don't need another rate cut.  What we need to do is invade a middle eastern country as a distraction from the economy.  That worked so well twice before!

Oh.  That turned out bad, too?

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#4) On December 10, 2007 at 6:15 PM, devoish (98.37) wrote:

I wonder how many people are planning on retiring on a house they are selling for fewer dollars that are worth less and less with every cut.

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#5) On December 11, 2007 at 8:13 AM, dwot (50.85) wrote:

I just wrote a six part piece, "The Six Degrees of Leverage," in one part of it I explain why the analysis that lowering interest rates stimulates the economy is faulty and what drove it to appear to stimulate the economy before and why that can't happen now.

If rates had been lowered with lending laws that took into account the difference in the nature of debt at low rates versus high rates the credit mess the banks have created could have been avoided. 

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#6) On December 11, 2007 at 8:33 AM, dwot (50.85) wrote:

I just read the link.  There is no question that people with these unmanageable levels of debt need relief, but at the same time there needs to be lending laws to protect the rest of us from the stupid and the corrupt.

If this credit crisis was limited to the morons involved in it I couldn't care a less about it, but the bankers and the rating agencies have basically prepetuated one of the biggest frauds the world has seen.  I was so disgusted reading that JP Morgan was probably going to do fine through this crisis because the CEO had adversion to the risk of the mortgage paper and made sure they sold most of it.  So, if he knows it is risky the only way he can dump on the unsuspecting is by having it rated triple A.

If the mortgages were that high of risk that the bank didn't want, the banks ought to have not granted them. 

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#7) On December 13, 2007 at 1:38 PM, Allstar13913 (99.82) wrote:

Sheeple is a great word.  I'm adding it to my vocabulary from now on.

 Mike

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