Stop Trading!: Bush Subprime Plan Not a Bailout
Published: Thursday, 6 Dec 2007 | 5:27 PM ET
Cramer is tired of hearing that President George W. Bush's plan to freeze subprime interest ratesis a bailout, he told Erin Burnett during Stop Trading! Thursday. He chalked the complaining up to investors who shorted the financials.
"Everybody knows we've got to slow the [foreclosure] process down," Cramer said, "so these companies can raise capital and therefore stay in business, and snap back like in 1990 when Citigroup was insolvent."
The plan should help reduce some of the growing housing inventory and keep the system from collapsing, Cramer said.
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It should keep the system from collapsing, Cramer says.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.