Since policy makers have so steadfastly refused to do every reasonable thing Jim's suggested on air, ever since the rant heard round the world in August of 2007, the ultimate Cassandra moment--he predicted disaster, the Fed didn't listen, disaster happened, maybe we're doing the wrong thing by publicly backing Hank Paulson's bailout plan on air.
When Jim screamed at Ben Bernanke to cut rates drastically because of the deflationary spiral caused by falling home values and foreclosures, Bernanke held rates steady to stave off inflation. Now that we're backing Paulson's bailout plan, Congressional leaders, not to mention the people, are up in arms against it. So here's my plan for getting the bailout passed: Jim Cramer needs to come out on TV and publicly denounce the plan, every aspect of it. He needs to say that these banks should suffer and everything will still come up roses.
Maybe then people would call us idiots and endorse the darned thing.
Cliff Mason is the Senior Writer of CNBC's Mad Money w/Jim Cramer, and has been that program's primary writer, in cooperation with and under the supervision of Jim Cramer, since he began at CNBC as an intern during the summer of 2005. Mason was the author of a column at TheStreet.com during 2007, which he describes as "hilarious, if short-lived." He graduated from Harvard College in 2007. It was at Harvard that Mason learned to multi-task, mastering the art of seeming to pay attention to professors while writing scripts for Mad Money. Mason has co-written two books with Jim Cramer: Jim Cramer's Mad Money: Watch TV, Get Richand Stay Mad For Life: Get Rich, Stay Rich (Make Your Kids Even Richer). He is 100% responsible for any parts of either book that you did not like.
Mason has also had a fruitful relationship with Jim Cramer as his nephew for the last 23 years and will hopefully continue to hold that position for many more as long as he doesn't do anything to get himself kicked out of the family.
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