Ok i thought he went to hell after the stock market did. He tries to justify that he "knows" what is going on in the market. People trust him and when he is wrong he has some excuse that he wasn't wrong...And he gets a show as an expert. Here is something to consider. When a major player like Madoff blatantly rips off the market and the SEC is unable to corral him until he has done unbelievable damage when the evidence was so apparent, who is to say the same is not happening now with someone else. The markets are grossly underpoliced and for years has been manipulated easily. New exchanges with different rules is part of the problem. And yet Cramer gets a show even though he is a proven failure. It would be like Pia Zadora being a judge on the Voice.
What kills me is the Madoff mess was at times laughable. A competitor reported that Madoff was claiming to have purchased more shares than were traded on a particular day. Easy to verify. And no one did despite many complaints from different source who noticed the absurdity of Madoffs claims to clients. All these firms that were losing business to Madoff because they could not match his return on investment checked up and found the numbers were not even close to being believable. It was laid out perfectly to the SEC and it was swept under the rug.
Manipulation of the markets goes far beyond Madoff others convicted of similar crimes Russell Wasendorf for instance. over 100 million gone thanks to him. But have no fear, Jim Cramer knows what is going to happen!
What kills me is the Madoff mess was at times laughable. A competitor reported that Madoff was claiming to have purchased more shares than were traded on a particular day. Easy to verify. And no one did despite many complaints from different source who noticed the absurdity of Madoffs claims to clients. All these firms that were losing business to Madoff because they could not match his return on investment checked up and found the numbers were not even close to being believable. It was laid out perfectly to the SEC and it was swept under the rug.Manipulation of the markets goes far beyond Madoff others convicted of similar crimes Russell Wasendorf for instance. over 100 million gone thanks to him. But have no fear, Jim Cramer knows what is going to happen!
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