Cramer: Obama Was Too Muted
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NEW YORK (
) -- President Obama was not bullish enough about how Wall Street is doing, and it surprised me. He didn't make enough points about how much better things are. Here are some quick reflections about why he didn't take enough credit for what he and Bernanke and Geithner have done:
The shadow banking system is dead.
You can't get a loan if you can't pay it back.
You don't borrow if you are not creditworthy.
The banking system is stronger than you think.
We have tremendous transparency now.
We do not allow excess leverage in the system.
It drives me crazy that everyone -- including the president -- doesn't seem to recognize that the system is cleaner and more honest than at any time I have ever seen it.
Oops, maybe I am wrong:
Wells Fargo
(WFC) - Get Report
and
JPMorgan
(JPM) - Get Report
and
Goldman Sachs
(GS) - Get Report
are up. Maybe someone is listening.
-- Written by Jim Cramer in New York
.
At the time of publication, Cramer was long GS, JPM and WFC. Jim Cramer is co-founder and chairman 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
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