CNBC stock market wiper Jim Cramer went on a breathtaking run Tuesday about the threat that Democratic presidential hopeful Elizabeth Wire's progressive policies pose for Wall Street executives.
"Elizabeth Warren, don't listen. I favor CEOs, ”Cramer said in a segment of the program titled Squawk on the Street, as if he had just revealed a secret and had not had an entire career built on this exact idea.
“You think it's positive to have a CEO? "asked his colleague David Faber after a little awkward silence.
" I think, yes, I mean … "said Cramer before delving a little deeper into the richest people in the world's response to Warren's candidacy.
"If she becomes president, what do you think will happen to the banks?" Faber asked.
"Well, it's not one – it would be a sub-optimal situation for the banks, "Cramer replied.
He continued:" It was these 30s hearings where they brought rich people in front of Congress and just kind of trashed them. "I think he probably refers to the Pecora investigation, when the US Senate Banking Committee conducted hearings to find out how the economic crash in 1929 happened. Seems like a pretty good idea indeed! Does Warren take notes?
Then Cramer continued: "I have to tell you when you leave the desk and you talk to leaders, they are more afraid that she would win."
really says a lot that this guy's version of authentic footwear reports is related to the richest people in the world.
Faber added that he had also received intelligence from his sources that Warren threatened: "By the way, I hear it too, and that's another reason companies are being asked to do things now if you want to do – M & A [ editor's note: this means mergers and acquisitions, ie layoffs ] or whatever – think about doing soon because it will be early to mid 2020, if Elizabeth Warren joins, everyone will be like & # 39; that's it. & # 39; "
If the name Jim Cramer rings a bell for you, it may be because you've heard of his many cool books like Stay Mad for Life: Get Rich, Stay R I've Turned On! Why Wall Street Tanked and How You Can Prosper and Confessions of a Street Addict.
You might also remember this guy because he asked everyone not to sell their holdings in the investment bank Bear Stearns on March 11, 2008: “Bear "Stearns are fine. Don't take your money out. Bear Stearns aren't in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear. It's just being stupid. Don't be stupid." 19659004] On March 14, 2008, Bear Stearns collapsed and received a rescue situation from JP Morgan and the New York Federal Reserve, so yes, maybe not take this guy's financial advice.