and if I may add : "Gordon Gekko: [at the Teldar Paper stockholder's meeting] Well, I appreciate the opportunity you're giving me Mr. Cromwell as the single largest shareholder in Teldar Paper, to speak. Well, ladies and gentlemen we're not here to indulge in fantasy but in political and economic reality. America, America has become a second-rate power. Its trade deficit and its fiscal deficit are at nightmare proportions. Now, in the days of the free market when our country was a top industrial power, there was accountability to the stockholder. The Carnegies, the Mellons, the men that built this great industrial empire, made sure of it because it was their money at stake. Today, management has no stake in the company! All together, these men sitting up here own less than three percent of the company. And where does Mr. Cromwell put his million-dollar salary? Not in Teldar stock; he owns less than one percent. You own the company. That's right, you, the stockholder. And you are all being royally screwed over by these, these bureaucrats, with their luncheons, their hunting and fishing trips, their corporate jets and golden parachutes. Cromwell: This is an outrage! You're out of line Gekko! Gordon Gekko: Teldar Paper, Mr. Cromwell, Teldar Paper has 33 different vice presidents each earning over 200 thousand dollars a year. Now, I have spent the last two months analyzing what all these guys do, and I still can't figure it out. One thing I do know is that our paper company lost 110 million dollars last year, and I'll bet that half of that was spent in all the paperwork going back and forth between all these vice presidents. The new law of evolution in corporate America seems to be survival of the unfittest. Well, in my book you either do it right or you get eliminated. In the last seven deals that I've been involved with, there were 2.5 million stockholders who have made a pretax profit of 12 billion dollars. Thank you. I am not a destroyer of companies. I am a liberator of them! The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much." -Wall Street (1987) Truth is, not that it matters on ET, but the situation is simply not as bad as people are making it out to be. There are a lot of jackasses running around right now "losing money" just so they can get a handout. You take a huge company like AIG losing $30 billion a quarter and truth is they're not. They just want a fat piece of the pie. It's not hard to start creating write off's and extra expenses when you're that big. The problem also lies with the fucking stupidity known as the media. All people hear all day everyday is about how bad things are and that the world is going to end. SHUT THE FUCK UP ALREADY. you're not helping anyone. investors need to stop being scared, companies need to stop being so corrupt, and people need to all smoke a joint or something, relax. You hang around 5th ave in manhattan and hate to break the news to you, people are still shopping at bergdorf's and prada, driving around in bentleys. The constant negativity is just making shit appear worse than it is.
"You take a huge company like AIG losing $30 billion a quarter and truth is they're not." are you a forensic accountant? when it comes to valuing companies what expertise do you bring to the table?
Just because somebody doesn't do what Cramer would like to be done makes them an idiot in his mind. I actually think Cramer is a moronic idiot for his ability to drivepile people's portfolios into the ground. How about the buy XLF call - its the bottom! - in July 2008?
Cramer is still pissed that the Obama team did not contact him for the SEC Chairman's post. Cramer is about as corrupt as one can become. Like the New England weather, all you have to do is wait a minute and things will change.
Exactly. But the people that drink from Cramer's "Kool-Aid" are too far gone to be able to embark on anything other than "twisted" logic. Keep drinking guys.