Mad Money host Jim Cramer made a passionate, and quite amazing, plea to Federal Reserve Chairman Ben Bernanke on CNBC yesterday. He urged Bernanke to cut interest rates and, in turn, help the market and the people who were losing their jobs on Wall Street.
This is video footage at its alarming best: entertaining and controversial, with all the potential of causing furious debate. After all, Jim, is it the Fed’s role to come to the rescue of investment banks at the first sign of trouble after years of record-breaking profits?
Also read good friend Barry Ritholtz’s comments on Cramer’s tirade on his Big Picture blog.
Cramer perhaps has reason to be ranting and raving, at least the price charts of a number of investment houses seem to be telling a pretty sad story.