Because Cramer took yesterday to celebrate Rosh Hashanah – and continue repenting for all those years at his hedge fund as the chair-tossing, computer-smashing boss – he didn’t get a chance to cover this week’s Sell Block until today. The focus? His Hall of Shame.
Cramer’s dislike of Citigroup CEO Chuck Prince is no secret. The Clown Prince’s hapless mistakes put him in the Hall of Shame as far back as March. The latest blunder, according to Cramer, was buying a hedge fund right when the industry was topping. Forget the fact that the fund had “the worst management team I have ever seen,” he said.
But what could the Street expect from a lawyer who was brought in to clean up after former Citigroup boss Sandy Weill was ousted by regulators? At this point, it’s the board of director’s fault for not getting rid of Prince, Cramer said. “Chuck Prince must go,” he said. “The longer he stays the more I question my belief in the existence of the board of directors.”