Stop Trading!
Cramer's 'Stop Trading!': Obama on TARP
TheStreet.com Staff
01/12/09 - 03:23 PM EST
"When you vote for the Democrats, they're not going to favor capital over labor," said Jim Cramer on Monday's "Stop Trading!" segment on CNBC. "They're not going to favor the banks over the struggling homeowners."
President-elect Obama asked President Bush today to notify Congress on his behalf that he plans to request release of the remaining TARP funds. Also, Larry Summers, incoming economic adviser to Obama, said in a letter to leaders in Congress that the Obama administration will seek increased "transparency and accountability" from recipients of TARP money.
"This is a line in the sand," said Cramer. He said Obama is saying, "We're going to help the people being foreclosed and not the people doing the foreclosing."