Cramer: "At Least Goldman Escaped Obama's Ire"
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Cramer: "At Least Goldman Escaped Obama's Ire"
"At Least Goldman Escaped Obama's Ire"
By Jim Cramer
RealMoney Columnist
1/28/2010 8:11 AM EST
"So it was a root canal? That's what it was? Hoo-hah! A root canal. Glad I know the procedure.
You know what I got out of last night's speech? You know what the most important and frankly perhaps the only substantive thing that came out of the speech? That President Obama grasped Treasury Secretary Tim Geithner on the way to the podium.
I figured he would throw Geithner under the bus for defending huge payouts for bankers, pushing for a gigantic payoff for Goldman Sachs (GS - commentary - Trade Now) and aiding and abetting AIG's (AIG - commentary - Trade Now) Treasury rip-off -- none of which he did, and yet he is hectored unfairly about it pretty consistently wherever he goes, particularly on Capitol Hill.
I was looking for something big involving jobs and infrastructure, but I heard that we already had that and it's doing well.
I was looking for something that said the health care reform will no longer clog the agenda. Instead I learned that (continuing the bank bailout/root canal theme) we have back problems and it is time for some spine-stiffening.
I had been led to believe that there would be something about natural gas and infrastructure -- nope. He mentioned every other fuel by name except natural gas.
So, as I search for something momentous about the speech I draw on a particular omission.
He did not mention either Goldman Sachs generally or Lloyd Blankfein specifically as the reasons why we are in this mess.
Thank heavens for small Wall Street victories...
At the time of publication, Cramer was long Goldman Sachs. "
(in www.realmoney.com)
By Jim Cramer
RealMoney Columnist
1/28/2010 8:11 AM EST
"So it was a root canal? That's what it was? Hoo-hah! A root canal. Glad I know the procedure.
You know what I got out of last night's speech? You know what the most important and frankly perhaps the only substantive thing that came out of the speech? That President Obama grasped Treasury Secretary Tim Geithner on the way to the podium.
I figured he would throw Geithner under the bus for defending huge payouts for bankers, pushing for a gigantic payoff for Goldman Sachs (GS - commentary - Trade Now) and aiding and abetting AIG's (AIG - commentary - Trade Now) Treasury rip-off -- none of which he did, and yet he is hectored unfairly about it pretty consistently wherever he goes, particularly on Capitol Hill.
I was looking for something big involving jobs and infrastructure, but I heard that we already had that and it's doing well.
I was looking for something that said the health care reform will no longer clog the agenda. Instead I learned that (continuing the bank bailout/root canal theme) we have back problems and it is time for some spine-stiffening.
I had been led to believe that there would be something about natural gas and infrastructure -- nope. He mentioned every other fuel by name except natural gas.
So, as I search for something momentous about the speech I draw on a particular omission.
He did not mention either Goldman Sachs generally or Lloyd Blankfein specifically as the reasons why we are in this mess.
Thank heavens for small Wall Street victories...
At the time of publication, Cramer was long Goldman Sachs. "
(in www.realmoney.com)
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