The Market Tumbles And The Cramer Clowns Are Back——Where’s Our Fed Bailout!

Back in August 2007, just as the quant funds had their first taste of what the upcoming collapse would look like and when the Fed for the first time realized that the subprime woes were “not contained” despite what Ben Bernanke had promised previously to Congress, financial comedy TV’s best known mascot, Jim Cramer had a meltdown on CNBC following Bear Stearns’ CFO admission that the fixed-income market turmoil was the worst in 22 years, ranting how the Fed “knows nothing” and how it should promptly bail out the financial system.


Little did Bear Stearns know that less than 9 months later it would no longer exist, but not before the same Jim Cramer proclaimed Bear Stearns was “fine” and is not in trouble when it was trading at $62/share. A week later the company was insolvent and was handed to JPM for a forced take-out at $2/share.


Fast forward 8 years when we just witnessed the biggest weekly market rout in 4 years and largest VIX surge in history, and when – like clockwork – the financial “experts” come crawling out demanding, you guessed it, another Fed bailout.

Here is Suze Orman, self-described as “America’s Most Trusted Personal Finance

Read more ... source: Bitcoin Warrior