Cramer's 'Mad Money' Recap: Sept. 24

Stock quotes in this article: MKC , RIMM , SMS , AAPL , SQM  

Click here for an archive of Jim Cramer's Mad Money recaps.


Jim Cramer told viewers on his "Mad Money" TV show Wednesday that Treasury Secretary Henry Paulson is doing a terrible job of selling the bailout plan.

Instead of speaking in plain English, Paulson has made his sales pitch much more difficult to comprehend by using Wall Street rehetoric.

Cramer said that the Paulson plan should be called "Invest In America" and not be referred to as a "bailout" of Wall Street. He said the plan is about keeping people in their homes and banks having the money to lend so that kids can go to college. "It's about cash in the ATM machine," he said, and keeping the problems of Wall Street from spilling over onto Main Street.

Cramer said he's mystified that a plan that is designed to avert economic disaster and possibly turn a profit for taxpayers, could be so hated. He said the financial markets revolve around credit and confidence, two things that totally disappeared last week.

Cramer made his point very clear, saying without this plan, unemployment could skyrocket to 20% to 30%. This is not about saving Wall Street executive salaries, he said, "this affects you." He told viewers they need to stop looking at the plan as a bailout and start looking at the facts.

Cramer advocates doing whatever it takes to get the Paulson plan passed and passed quickly.

Spicy Stock

In his hunt for stocks that can survive even the worst of economic times, Cramer recommended spice-maker McCormick (MKC Quote).

  • Loading Comments...
  •  
< Previous
1 2 3 4

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,285.97 1,091.93 2,172.99 33.92
Oil *
75.64
DOWN
104.14
DOWN
11.32
DOWN
16.62
DOWN
0.56
10 Yr
3.39%
SPDR Gold
110.95
-1.00%
-1.03%
-0.76%
-1.62%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services