FLASHBACK - Cramer On Geithner: "If Tim Geithner Gets To Be Treasury Secretary We Are Kaput, We Are Completely And Royally Hosed As A Nation"
Sep 14, 2011 at 2:52 PM
DailyBail in Tim Geithner, james cramer, jim cramer, tim geithner

CNBC Video - Cramer Destroys Geithner - Nov. 2008

Pretty funny clip - Runs 3 minutes.  Given this morning's Bubblevision extravagance featuring Geithner and Cramer, here's a look at a happier time between the clownish duo.

Ignore Cramer's nonsense about saving Lehman.  Letting Lehman fail was the only thing they got right during the entire financial crisis.  As the Valukas Bankruptcy report showed, Lehman was an over-leveraged cesspool of deception, fraud and criminal malfeasance with a $600 billion hole in the balance sheet.  It deserved to fail.  The initial bankruptcy process was flawed certainly, and demonstrated that Paulson and Bernanke were clueless about the ripple effects, but the decision to let Lehman go was the only thing they got right.

As we wrote in a previous story:

With measured stupidity, Cramer also buys into the Kanjorski-Paulson martial law, blood-in-the-streets, 17th-century-you'll-be-milling-your-own-wheat fear mongering, which as we've detailed and proven on multiple occasions was nothing more than highly granulated hyperbole meant to frighten a financially illiterate Congress and media corps into gentle acquiescence to the demands of their Sith Lords.


Back to the clip, courtesy of ZH:





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