Intervention de Jim Cramer dans l'émission "Stop Trading" du 3 août 2007
Retranscription (commentaires de Jim Cramer) :
JC:This is about Bernanke... this is about Bernanke... He has to be in on that call. Forget the investors. Bernanke needs to open the discount window. That's how bad things are out there... Bernanke needs to focus on this! Alan Greenspan (i.e., the previous Federal Reserve chairman) told everyone to take a teaser rate, and then raised the rate 17 times?...
And Bernanke is being an academic! It is no time to be an academic... It is time to get on the Bear Stearns (BSC) call... Listen, open the darn Fed window! He has no idea how bad it is out there! He has no idea! He has no idea! I have talked to the heads of almost every one of these firms in the last 72 hours, and he has no idea what it's like out there! None!...
And Bill Poole (William Poole, President, Federal Reserve Bank of St. Louis) has no idea what it's like out there! My people have been in this game for 25 years! And they are losing their jobs, and these firms are going to go out of business, and he's nuts! They're nuts! They know nothing!... I have not seen it like this since I went five bid for a half a million shares of Citigroup (C*), and I got hit in 1990...
This is a different kind of market, and the Fed is asleep! Bill Poole is a shame... he's shameful! Go an read the Accredited Home (LEND) document!... At least I read the darn thing... Cut the darn discount window... cut it... cut the rate. Open the discount window, cut the rate, relieve the pressure... In the fixed income markets, we have Armageddon...
Let them be calm, and then have them call me on the way home, like they do every night, and tell me Cramer, what are you going to do about it? Are you going to help us? Or are you going to stand on the sideline like everybody else and say that it's fine?.... Will somebody come on TV and tell the truth about how bad it is?... It is the rate. It's entirely the rate... Look, we'll spend billions in Iraq to build homes.
We have thousands of people losing their homes right now... 14 million people took a mortgage in the last three years... 7 million of them took teaser rates, or took piggyback rates... They will lose their homes. This is crazy. I am sorry to be upset about it, but you have to understand what they're saying to me off the record, before I come in here, every night and every day, and what I hear from these blowhard managers, who act like... call someone for heaven's sake!
Go call someone!... I worked fixed income at Goldman Sachs... This is not the time to be complacent!...
Look, I've got to tell you... He has got to call somebody... Bernanke's got to call someone... They're not calling anybody... and Bill Poole? Bill Poole... listen to me. There was a president by the name of Hoover...and no one thinks much of him now...the great engineer... They can save us with a rate cut...
