"The Endless Lies Are Just Ridiculous"
By Jim Cramer
RealMoney.com Columnist
9/15/2008 10:14 AM EDT
"I can't believe the dissembling I have seen in this period. AIG (AIG - commentary - Cramer's Take) insisted over and over again they had no problems or exposures. They lied. Lehman Brothers (LEH - commentary - Cramer's Take) called me in at $40 and told me how they were in such great shape. They lied. Bear Stearns called me at $100 and told me how wonderfully they were doing. They lied.
I have never been lied to so many times in my life.
It is so disgusting. I sit here, angry -- angry at the endless lies and misdirection and pressure I've gotten to tell a more positive scenario, right down to the nonsense that firms are telling me about how they don't deserve the "black hole" status they got.
It is just plain nauseating.
Meanwhile, the Fed really didn't know anything, They were in total denial. They have been behind the curve endlessly. They first refused to take collateral of less-than-sterling quality to save firms. Now they are taking equity?
Unbelievably irresponsible. All the way around.
At the time of publication, Cramer had no positions in the stocks mentioned. "
(in
www.realmoney.com)