Treasury Plan Doesn't Address the Crisis

Now, here is the real bottom line: I predict the Fed will spend $500 billion to bail out the system in the end because of this problem. If the Fed had acted a year ago, it would have cost nothing.

And now it gets more regulatory power.

Sorry, it is almost comical. You give the most laissez-faire institution in the country the right for more regulation and they don't believe in regulation? You give, per se, the New York Fed the oversight and that wing had all the data I know I had when I went ballistic about this last August when there was still a chance to fix things?

Thanks, Treasury. Meaningless.

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

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