SEC Should Hang Up on Vonage Deal

Vonage (VG - commentary - Cramer's Take) lets you default on your shares, literally fail to pay on the offering, if you use Vonage?

How about if you bought Vonage on the IPO deal because you thought it would be a good deal? How about if you were about to sign up for service with Vonage?

Don't you think they should get their money back, too?

As I use to say so often in these columns, Wrong!

I think this is a total outrage, just unbelievable. How in heck did the SEC let this pass? What were they thinking? A guarantee for some and not for others in one of the worst deals out of the chute in history?

Embarrassing.

When I commented negatively about the Vonage deal when it launched (even though I had been against this ridiculous piece of business from the get-go), I was surprised to hear that the management of Vonage wanted to speak to me about how negative I was.

Hey, I am in the business of making money for people, not making friends. I just wanted to get people out of a bad deal.

I think that they should cancel this deal and let everyone out. I think that the SEC really has no idea what the heck it was doing when it approved this.

Talk about coming back to haunt; this is preposterous.

What a joke.

Random musings: Ivanhoe Energy (IVAN - commentary - Cramer's Take) gets big boost from Jefferies. The report reads better than I thought. ... Seeing some tremendous declines in the alternative energy names.

At the time of publication, Cramer had no positions in the stocks mentioned.

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