[quote=ltokuda]Behind wall street’s exterior is a huge con game: Gain people’s confidence and use their money to create short term profit at the expense of long term risk. Guys like Cramer and many of the other “experts” you see on TV know that its a con game. In fact they’re an important part of keeping the con going. And when it all blows up, they do their best to act surprised: “It had a one in a million chance of happening” … “This is a once in lifetime event”, etc. But as Michael Lewis points out, this con game has been going on for a very long time. A lot of people know about it. The only question is “Why isn’t it public knowledge?”.[/quote]
I understand that a lot of people have been conned and you are really upset about these “used car salesmen.” It’s understandable really. I’m upset too.
Cramer and his cohorts at CNBC has lost a lot of money in stocks too. Yes they were used car salesmen, and they were wrong, but they bought their own melons. They’re like the realtors all over the country that sold people overpriced homes. I’m not angry at the realtors, because they bought into it too. A lot of realtors are upside down in their own homes.
Most of the population bought into all of it INCLUDING Cramer. Cramer even said numerous times to sell. Stewart doesn’t give him ANY credit for that. Why not? Cramer makes buy and sell predictions all the time. Cramer even said to take out all the money you need in the next 5 years. Did Stewart give him credit for that? Nope. Cramer was wrong, but he was not trying to dupe anybody.
If Stewart wants to go after Santelli, and Santelli doesn’t want to come on the air, it’s irresponsible to provoke an attack against the entire network and against hosts that have nothing to do with Santelli.
It’s understandable that you are upset. I feel for you and others who have lost a lot of money in the stock market. Let’s just punish the real people who need to be punished. Let’s punish the true criminals.
