IMO, the worst ever call/analysis by Jim Cramer can be seen in this
interview... the video below shows Jim offering his analysis
on the Subprime crisisjust several weeks before all hell started
breaking loose in the subprime market.
In the video below, Cramer jokes about subprime... he then goes on to say the
subprime paper issue is;
"completely meaningless" ...
"if they all blew up, you still wouldn't notice" ...
"it has no relevance whatsoever" ...
"this is an issue where people really, really, want to just make a
gigantic hill out of what I think is a mole hill" ...
"I've sold this kind of bad paper, so I know the lack of importance it
has" ...
In my opinion, I think Jim actually knew how
bad the subprime crisis was... but because he was involved in selling toxic
subprime paper (which he admits in the video) I think he didn't want to tell the truth about the financial instruments
he and his Wall Street Charlatan friends had sold to unsuspecting dupes.
In contrast to what Cramer was saying... here's some of the
headlines from the WebPennys.com blog the same week Cramer was telling
everybody that subprime was "completely meaningless"...
