Mad Mail: Cramer's Plan for the SEC

Dear Mad Jim: Great coverage, again, on all of the horrible mistakes that Cox has made as chairman. I do not understand how people like him get to a position of decision-making. The lack of an answer has ruined my teeth from grinding. I sent my recommendation to Mr. Obama to appoint you as SEC Chairman. I certainly hope the job goes to someone who will stabilize the market. Thanks for your understanding and concern. I am glad you found a career that utilizes many of your talents. --Scotland

Cramer says: “…There’s so much stuff that I want to stop. And if they call me, I know all the tricks that [Wall Street traders] pull. And I’m going to end them. And I’m going to make the market fair again for people. Because everybody knows this market feels like it’s rigged everyday.”

Join the "Cramer for SEC Chairman" Facebook group.


Jim: I had placed a limit order on Freeport-McMoran if it hits $18. Since FCX announced today that they are suspending their dividend, the limit order clicked in. I'm wondering if I should cut my losses and get out, or if getting this company at $18 is a good price. Please explain. --Joe

Cramer says: “I bought some today for … my charitable trust at $17. I literally waited about 80 points. It is the world’s largest copper mine. They are cutting back production. That should eventually move copper prices back up. And China will eventually come back online.”


Jim: Now that Jerry Yang is on his way out, is it time to start buying Yahoo!? --Ken

Cramer says: “I think that Yahoo! has a lot of pageviews. And anything that has that much pageviews, if you came in now, I think you could do a great job with. Jerry Yang was really bad.”

Jim's charitable trust owns Freeport-McMoRan.

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