Remarkable what a change in attitude occurs when the unannounced spokesperson of the Democrat party, Jon Stewart, belittles you and the network you work at hires Howard Dean as a contributor. Here is Jim Cramer on Feb. 2nd:
Cramer, appearing on MSNBC’s Feb. 2 “Morning Joe,” drew comparisons between remarks between the first head of the Soviet Union, Vladimir Lenin, and Obama. Obama criticized Wall Street’s moneymaking on Jan. 30, when he said there would be a time “for them to make profits, and there will be time for them to get bonuses. Now’s not that time. And that’s a message that I intend to send directly to them.”
Cramer said that was similar to Lenin’s writings. “Let me tell you something, we heard Lenin,” Cramer said. “There was a little snippet last week that was, ‘Now is not the time for profits.’ Look – in Lenin’s book, ‘What Is to Be Done?’ is simple text of what I always though was for the communists, it was remarkable to hear very similar language from ‘What Is to Be Done?’ which is we have no place for profits.”
According to Cramer, China, which is the United States’ largest debt holder – about $682 billion – is currently faring better with capitalism, even though that government has operated communism for the last half century.
“Thank heavens for the Chinese communists, deeply rooted in a profit government,” Cramer said. “Because we have decided that profits have no place in the system.”
And now?
In a tone similar to the apologetic one he had earlier this month on Comedy Central’s “The Daily Show,” he complimented President Barack Obama’s rhetoric toward high executive compensation.
“We have to put the shareholders somewhere in the equation,” Cramer said. “When these CEOs make so much money, it hurts the shareholders. We have to be pro-shareholder. The president has become pro-shareholder.”
And here is Erin Burnett, another host on CNBC:
“We haven’t moved past it,” Burnett said to host Lester Holt. “It is important. There was a shift now that maybe we’ll take a deep breath and maybe try to find a way to reform it because there are needed reforms. Executive compensation in this country is much higher relative to average workers than it is in any other country. But, it is still a big question and they probably do need to stand up and say, ‘Give us some rules on how it’s going to work to increase the confidence in the system.’”
“It’s out of control!” Cramer added.
My my….how shocking.
And now they get to keep their jobs. Isn’t that special.
Supposed capitalists working for a network dedicated to the stockmarket telling us all that what a private company does with its money is now the governments business. Not the shareholder, not the company owners, not the employees of the company. No….the government knows best.
It’s getting very scary.
UPDATE
An honest politician, as an old saw has it, is one who stays bought. If this is true, then we have the most dishonest bunch of officeholders ever, and it may lead Wall Street to reconsider its donations in the future.
AIG, for example, was a huge donor to politicians, as CNS News reports:
“Some of the AIG donations to lawmakers include Sen. Chris Dodd, D-Conn., $103,100; then-Sen., now President Barack Obama, D-Ill., $101,332; then-Sen., now Vice President Joe Biden, D-Del., $19,975; Sen. John McCain, R-Ariz., $59,499; former Sen. Hillary Clinton, D-N.Y., $35,965; Sen. Dick Durbin, D-Ill., $11,000; and Sen. Max Baucus, D-Mont., $24,750.”
And it wasn’t just AIG: Wall Street in general gave profligately to Barack Obama, and to Democrats generally, in 2008. Yet now, when the polls shift, all of those politicians who were so happy to take the cash are suddenly pretending they have never even heard of Wall Street. Instead they’re getting behind punitive taxes, protesters steered to executives’ homes and what both the Financial Times and the New York Daily News have called a “witch hunt” against bankers and brokers.
As Joseph Nocera wrote in the New York Times, “Congress, with its howls of rage, its chaotic, episodic reaction to the crisis, and its shameless playing to the crowds, is out of control. This week, the body politic ran off the rails.” They probably acted nicer when they were asking for money just a few months ago.
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What a wuss! The sad thing here is that has lost total credibility now and his career is over. Who is going to listen to him or watch his show now?
Again, what is wrong with rich people? The Left really needs to quit envying them and creating the hate for them. It is pathetic. Without the rich, America would not the great nation we are today.
http://franklinslocke.blogspot.com/
The left only hates the wealthy when they are Conservatives or a
convenient scapegoat. You’ll note they aren’t going after leftist
billionaires or millionaires.
Is Howard Dean CNBC’s Minder?????
@Hard Right,
No doubt that there’s hypocrisy in the gnashing of teeth. The bigger issue to me is that the “hate” is just an act, and the sooner people realize it, the better.
Jeff V
I’d LOVE to hear what the SEC thinks about government ownership of the largest publicly traded companies in the country! Can you imagine how much insider information these goons would have, not to mention the voter influence such arrangements would have? If this goes through, can the Democratic party be anything but all-powerful? I wonder how the FTC would react. We already have government-sponsored monopolies (Postal Service, for example), and we don’t need any more.
Jeff V