This morning on the Today show, Jim Cramer, who hosts CNBC’s Mad Money and is a former hedge fund manager made some bold statements on the Obama Administration’s response to the economic crisis. Given Jim Cramer’s history of support for liberal causes and leaders, this was another example of bipartisan opposition to the President’s economic agenda.
MATT LAUER: Famously in October, Jim, you told people if you need this money in the next five years, get it out of the market. Then in November on the 24th, you said this to me on our show, you said ‘Matt, but confidence can be restored. A lot of what’s going on is gloom. Some of this is pessimism that’s unwarranted. Fast action by Obama could take that off the table.’ We had a stimulus package, we had a housing bailout, we’ve got efforts to save the banks. People would say that’s fast action. Why hasn’t it worked?
JIM CRAMER: We have an agenda in this country now that I would regard as being a radical agenda. I think we had a budget that came out that basically put a level of fear in this country that I have not seen ever in my life, and I think that that changed everything.
LAUER: So, the policies are not shareholder-friendly?
CRAMER: Shareholder-friendly? This is the greatest wealth destruction I’ve seen by a President…