Dec 12, 2007

Jim Cramer on Bernanke's "dinky 1/4 point rate cut"

I am angry because today the Federal Reserve cost this country an enormous sum of money by giving us a dinky 1/4 point rate cut. The Fed has just done its unwitting best to hasten the possibility of recession - or, if I'm going to be totally honest and a bit more of an ambassador - to turn the possibility into something closer to a certainty.

Today we learned that no matter how bad things get, the good folks running the Fed are going to take a calm, measured approach - even if to be calm at this moment is the height of insanity.

~ Jim Cramer, CNBC's Mad Money, December 11, 2007

No comments: