Cramer: Jerry Yang Is On My Wall of Shame
Cramer declared Carl Icahn as the winner against management in the Yahoo saga, and sees the Lehman report on Fannie Mae and Freddie Mac writedowns as a “Plea for Forbearance” during Monday’s Stop Trading!.
Reacting to reports that Yahoo has stopped talking to News Corp., and would be open to a search deal with Microsoft , Cramer believes that Yahoo management has its hands full and Carl Icahn wins here. But, in the interim what does he really win? Cramer doesn’t see them getting a huge price on Yahoo shares anymore.
Jim had strong words for Jerry Yang and doubts he can get Yahoo to the 34 level on its own volition. “Jerry Yang is on my Wall of Shame, I think he is just shameless.” Cramer said.
When discussing the Lehman report on Fannie Mae and Freddie Mac writedowns, Cramer pleaded, “We need the government to stop looking. We need everybody to say, okay, we’ll get through this period. Let’s not ask for big capital requirements, because otherwise we’re going to have a big bailout.”
Bottom Line: Cramer has been saying sell on Fannie and Freddie for 50 points and wants to reiterate his sell call on both.
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