Saturday, August 04, 2007

Jim Cramer Meltdown

On a very bad day for the markets, Jim Cramer was experiencing a meltdown, live on CNBC. This is what the housing bubble bursting looks like folks. It aint pretty!



"HE HAS NO IDEA HOW BAD IT IS OUT THERE. HE HAS NO IDEA. HE HAS NO IDEA. I'VE TALKED TO THE HEADS OF ALMOST EVERY SINGLE ONE OF THESE FIRMS IN THE LAST 72 HOURS AND HE HAS NO IDEA!!!"

"AND BILL POOLE HAS NO IDEA WHAT IT'S LIKE OUT THERE!!"

"THESE FIRMS ARE GOING TO GO OUT OF BUSINESS!!!!!"

"THIS IS A DIFFERENT KIND OF MARKET AND THE FED IS ASLEEP AND BILL POOLE IS A SHAME HE'S SHAMEFUL!!!!"

"WE HAVE ARMAGEDDON"