Tingum & Co

Are you watching Cramer melt down right now on CNBC?

WOOOOOOH! This is HIGH ENTERTAINMENT!

He is hollerin' at Ben Bernanke.

"BERNANKE HAS NO IDEA! NO IDEA!"

Sienfelds? i thought he already had a meltdown on TV :D

Sienfelds? i thought he already had a meltdown on TV :D



Only 'cause dis ya' birtdee I ein ga wet you two slaps! LOL! :gi:



This Cramer -----> http://www.cnbc.com/id/15838187/

LOL. I was just about to ask you if you're watching this man lose his ever-loving mind.

That was funny.

LOL. I was just about to ask you if you're watching this man lose his ever-loving mind.
That was funny.

I was dying I tell ya'! DYING!

Ole boy has finally flipped his lid!

"Bernanke, CALL SOMEBODY! CALL SOMEBODY!"

Erin looked like she wanted to drop kick Cramer!

My best friend works for Bear Sterns mortgage arm EMC Mortgage in Dallas/Lewisville/Irving.

They stopped dealing in sub-prime earlier in the year. She survived a HUGE layoff 2-3 weeks ago.


She is clueless though- Only does her job and never reads the financials.


Do you think they are telling the truth about liquidity? American Home Mortgage went belly up yesterday and Beazer dang near died on a freekin rumor. EMC Mortgage might go the same way.

Maybe BS will get swallowed in a takeover.

I would've had the DVR on if I knew that was coming. I can't wait till 5:00 Central!!!!

...of course, I don't agree with Cramer and I think he is crazy..

My best friend works for Bear Sterns mortgage arm EMC Mortgage in Dallas/Lewisville/Irving.
They stopped dealing in sub-prime earlier in the year. She survived a HUGE layoff 2-3 weeks ago.
She is clueless though- Only does her job and never reads the financials.
Do you think they are telling the truth about liquidity? American Home Mortgage went belly up yesterday and Beazer dang near died on a freekin rumor. EMC Mortgage might go the same way.
Maybe BS will get swallowed in a takeover.


I have a friend that's a MD at Bear Sterns, but he's safe. He can leave and get the same job in a day.

Do I think Bear Sterns is telling the truth about their liquidity position?? That's hard to say. She would know better than anyone else. If they sold off a lot of mortgage-backed securities and got their money early on then they should be fine. But if they're still holding those securities then they're probably in trouble.

The same thing almost happened to ML last year when all of their traders bought energy and then there were no hurricanes and oil prices dropped from 75 to 50 dollars.

http://www.cnbc.com/id/15840232?video=452808336

Okay. I wasn't paying attention, but wasn't the DJIA only down about 80 to 90 points before Cramer spoke?? Then when he started screaming armageddon the DJIA dropped another 100 points??

Okay. I wasn't paying attention, but wasn't the DJIA only down about 80 to 90 points before Cramer spoke?? Then when he started screaming armageddon the DJIA dropped another 100 points??


He started screaming and I took my eye off the ticker.

The numbers started falling during the Bear Sterns conference call and Cramer didn't help matters for the lemmings

Why am I spelling Stearns as Sterns??

Anyway...

I just noticed that Cramer and a lot of the CNBC guests are saying that Greenspan encouraged americans to borrow at lower, teaser rates and now the Fed is not willing to clean up its own mess.

That's a lie.

I think Bernanke left in 2004/2005. The Fed reduced rates in 2002 after 9/11 because the economy was headed for trouble. Most of the corporations were headed offshore. The problem is that consumers came to feed as well. This is after the internet bubble of the 90s and all of the credit card debt amassed during the Clinton years. Which meant a lot of foreclosures. Then idiots made a business out of flipping houses. Which the Fed warned against in 2003. Greenspan said that the Government should liquidate much of its holdings in Fannie Mae and the like because housing will cause a problem in the near future.

So everybody knew it was coming. Two weeks ago, everyone knew it. Two months ago everyone knew it. Two years ago everyone knew it. Corporations were taking excess liquidity and taking it offshore and producing large returns that they couldn't domestically. So the Dow went from 11,000 to 12,000 and eventually 13,000 - that was cool as long as debt securities weren't risky. But they were and nobody wanted to admit it because they were looking for the Dow to go to 15,000, get rich and leave everyone else screwed.