Fed's No Sacred Cow

I guess I could hold up the Federal Reserve governors and the Fed chairman as gods, like everyone else does. But I am, alas, from Philadelphia, where we booed Lenny Dykstra and Mike Schmidt, for heaven's sakes, even thought they got us into the World Series.

My town, like my hedge fund game, was strictly "You are only as good as your last trade." King, pawn, didn't matter; that's the mantra.

So, frankly, I don't understand why you can't criticize, even ridicule, people in finance who get it wrong.

I am sure that Dick Fisher's a smart guy, but didn't he feel the need to say "Man, did I blow it last year" after his eighth inning comment played out so wrong? I am sure that Ben Bernanke's a serious individual, but so's President Bush and that doesn't keep people from saying he's blowing his lead or his 9/11 goodwill or his chances in Iraq.

Believe me, if Ben Bernanke were interesting enough to Jay Leno and David Letterman, he would have been taken apart on late-night television in this period.

So I think some all-in-good-fun ridicule, in these pages and on the airwaves, is right.

I have been adamant from day one of TheStreet.com that we have to treat business people with the same rigor we use for sports people. We have to care less about getting one of them for an interview and more about taking them to task when they mess up.

On television I am real lonely in this posture. In print I am not. And online I am in the majority.

Oh, and while I'm at it, if the Philadelphia Phillies keep playing as they have these last 10 days, they ought to fire Charlie Manuel.

At the time of publication, Cramer was long TheStreet.com

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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