Mad Mail: Pick Your Price Home-Buying?

Jim: The entire ETF/market manipulation piece was fantastic. Do not let up on this. Keep pounding the tables because it must be dealt with. I am so glad you are as upset as I am about it. Public trust has been violated and the market is being completely destroyed by manipulation. This must be blown wide open. FINRA, the exchanges, the SEC - they are all guilty of oversight! --Laura

Cramer says: “No one wants to investigate this because they generate a huge amount of commissions and because this has been the only product that has been introduced where there’s new underwriting fees. So there isn’t anyone in the system to check this. I hope that a new SEC chairman will not be so in bed with the underwriters and with the commission traders and take a hard look at what you and I know is not right.”


Dear Jim: If your scenario is true, could any legal action be brought against the offenders? Have you notified any government agency? Please help the little guy! --Fred

Cramer says: “All I have is my show. I am not a respected individual when it comes to these kinds of things…I’m easily dismissed…I don’t think the SEC chairman is going to say, ‘Wow, I watched Cramer last night. Let’s crank up an investigation’…”


Hey Cramer: Booyah! I know that you've called the housing bottom for the end of June. I read a great article on your sister website, MSNBC, about the next wave of foreclosures - pay option mortgages. Please tell me that we are not going to see another wave of trouble in 2010? Everyone seems to be focused on what is going on right now and not looking toward the future and what is going to happen next (ironically the same circumstances that got us here in the first place). If this is coming, can you give me another "they know nothing" tirade? --Dan in Cleveland

Cramer says: “…It’s true – foreclosures could go up…[but] mortgage rates are coming down so fast and there’s such a glut of properties that come the spring people are going to go buy them because they will actually be able to pick their price. I think it’s a once-in-a-lifetime opportunity. And I think it will end by the summer” when people realize they need to act before they miss that opportunity.


Hey Jim: Sorry I can't call into the show as I'm sitting in Switzerland, but I am hoping you could give your thoughts on Rex Energy. I know it was one of your Wildcatters...are you still feeling strong about this company? --Thomas

Cramer says: “Natural gas went to $5. The wildcatters are all very stretched. It was a bet on natural gas staying higher. And natural gas being used in cars – it’s not. So now you have to wait a whole other cycle before Rex comes back. I am sorry. When that group was hot, it was the hottest. Now that the group is cold, it’s the coldest.”

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