Back to the financial con
An ex-Goldman Sachs employee
shows his true stripes
Financial House of Cards
This is some truly amazing footage.
It was shot in August 2007, after TV stock picker Jim Cramer had a public meltdown on live TV.
In his tirade, he pointed out - quite accurately and quite emphatically - that the entire financial house of cards built so energetically by he and his colleagues was starting to fatally unravel.
His solution?
Bail out his friends with low cost money that will cost the taxpayers a fortune.
Realizing how monstrous and unsympathetic he appeared, he switched to a plea to "help the troubled homeowner."
Of course, he made no suggestion on how to do that.
Then he makes a remarkable admission at the end, to paraphrase:
"Now that I told the truth once, I'm now going back to slinging bullshit tomorrow with a clear conscience."
Which is exactly what he did, encouraging naive and amateur "investors" to continue to wander around clueless in the mine field of the stock market.
Taking talking out of both sides of your mouth to a high art form...
Here's the outburst of honesty, he was referring to:
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