Cramer: The Sequel. Financials Are Worse Than We Thought. “It’s All Fiction”

2 days ago I posted a story titled “Cramer - Citi Is Still Sitting On $40 Billion In Mortgage Paper That Is Worthless“. If that rightfully scared the hell out of you, then this sequel video is going to outright terrify you. Even a hard core realist like me was shocked to watch the despair of Cramer, who has often been accused of being Wall Street’s biggest cheerleader.

Well, you can strip that title from him.

He genuinely believes that he and millions of investors have been - and continue to be - lied to and ripped off by the banks, insurers and credit ratings agencies - all in the name of commissions. He is convinced that things are going to get worse for many banks (except Wells Fargo, Goldman Sachs and a couple of others) but nobody is talking because the system is so fragile that one slip could bring it all down.

This is no conspiracy theorist folks. This is CNBC / Mad Money / Prime Time / “Boo-Yah” Cramer…and he is pissed.

What separates him from us is that he is now fighting on principal thanks to his hefty net worth. Those of you without $50 million lying around better start paying attention and fighting for your life. This is going to get worse - but you should already know that if you’ve been paying attention to this blog over the past few months.

Regards,

George