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» AnimationNation   » SideTopics   » CNBC dude Cramer Goes Ballistic on TV

   
Author Topic: CNBC dude Cramer Goes Ballistic on TV
Greg B
IE # 118
Member # 886

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http://www.youtube.com/watch?v=SWksEJQEYVU

Now THIS is how it's done! Dude totally went postal on tv!

Great stuff! He's beefing about the FED, the foreclosure crisis, lending...

He is telling it like it is!!!

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ApeLad
IE # 231
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This was on boingboing yesterday, with some responses: http://www.boingboing.net/2007/08/05/cramer_begs_fed_rese.html
The only Kramer I trust is Cosmo.

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-FP-
IE # 13
Member # 914

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Any "authority" afforded Cramer may have finally evaporated.

Here's a spot from December 2006 in which he denies the possibility of what's happening now:
http://housingdoom.com/2007/07/31/cramers-not-kidding-just-default/#more-824

And now Cramer is urging skrood borrowers to default: LINK

Even this latest Cramer advice ignores many important things, as mentioned in the Youtube comments - 1099-C debt forgiveness tax obligations and so on. Many workers are going to be practically enslaved for life by a debt or tax incurred for a house lost to foreclosure or short sale. Changes in the bankruptcy laws prevent a chapter 7 total writeoff if the person filing has earned at least his home state's median income in the previous six month. This huge change in the law effectively forces a five-year, rigidly-structured partial repayment plan to creditors which, in many instances, can simply not be continuously met for the duration of the plan. When the repayment agreement is broken due to an interruption in income or for any reason, the bankruptcy is voided and the debtor is once again fully exposed to all-out collection activity by whoever holds the creditor's paper. This precarious situation will be borne in addition to the burden of any moneys owed the IRS for the unrecoverable difference between the mortgage amount and the amount for which REO can be dumped into a disastrously deflating bubble market.

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ApeLad
IE # 231
Member # 3186

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Advice hollered from a TV is usually the worst kind.
Does anyone listen to Clark Howard? He doesn't holler, and is on the radio.

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Ganklin
IE # 14
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this is also the same guy who throws chairs around his studio before smashing 10 different sound effects buttons.

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Greg B
IE # 118
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FP, once again you are soooo right on freakin' target!!!!

I thought I was alone in that observation because anyone bringing it up got lost in the wind.

I saw this problem coming down the road a long time ago and when President Bush got his bankruptcy law I knew the subprimers and the disaster hit, catastrophic illness and of course the 'ripped off old folks from Enron and other big businesses' would be eaten alive. It's all manufactured, laid out for just that purpose to keep people enslaved in debt.

The Chinese bought up a huge chunk of American debt. Coincidence that the Bush family has major ties in China? Wanna know something that blew me away? An old friend of mine I hadn't seen in decades since college OWNS several major companies in China who OWN our debts! He's not even an American but an Israeli at that! How'd he negotiate a big company in China to do this? Well he told me he ain't the only one! Seems like many wealthy Americans and their shadow companies actually own these companies in China because it's against the law for them to do so in the U.S.!

It's called "getting around the Carney". An old term for getting into a carnival without the carnival strongarm catching you.

Can you see the sequence? Guy gets out of college with $50-$100k debt. Gets married has a kid needs to buy a house he's in Dutch for over $500k and making those payments with also cell phones, cable tv, etc.. Can't go into bankruptcy because he can't get out.

The new bankruptcy laws were designed to uphold confidence in the debt market to keep investors from cashing in too soon and buying up more debt.

Republicans have done two things in the past 40 years that have damned this nation. The change in usury laws and this new bankruptcy law. Usury laws were in place to prevent people from going into high debts as that would undermine the country. If you read the origin of credit cards you'll see how in the 1950's when American Express started it was for teachers to get the educational system up and running. Then those laws were broken, debt climed. Usury laws were altered, debt went through the roof and continues.

It's just as you said FP, enslaving people. Add to that the amount we pay in taxes and we're not doing better percentage-wise than the Serfs of old.

They crack the whip on us citizens to pay debts but foreign countries that we've rescued from evil can take all day long to pay us back.

I'm tired of us Americans being pimped out.

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Graphiteman
IE # 218
Member # 2092

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I don't know from here or there but the guy does seem sincere and he is a wonderful foil for the woman who comes off as a class act broadcaster.
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