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Mad Mail: A New Face for Wall of Shame?

Hey Jim: I think you should put [Nordic American Tanker CEO] Herbjorn Hansson on the Wall of Shame. He said on your show that he would not do another equity offering then he does one. Does this guy just want his stock up so he can do these offerings? I don't think the company has the cash flow to pay the dividend without the offerings. Look at the cash flow historically, take out the offerings over the years, there is no way they can fund the dividends without them. I honestly think he uses these offerings to fund the dividend. Please tell me your thoughts. --Carmine

Cramer says: “He does the equity offerings to go buy ships. They are accretive. We did look at the total return. It is good. However, I will grant you this, Carmine: Every time that stocks goes to $34-$35, until he simply says he will not do one, swears by it and then doesn’t do one, I’m going to recommend selling it, because I’m tried of hurting people. I think he’s a good man, but I am tired of hurting people.”

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JC: Condolences to all at CNBC and others who knew this great American. To be blunt and right to the point: JC, in addition to yourself, [former FDIC Chairman] Bill Seidman was the only other person my friends and myself could listen to and understand what was going on in the financial markets the last two years. For this, plus his efforts as FDIC chairman and so much more, Mr. Seidman will be fondly remembered. --Doug

Cramer says: “As much as I appreciate your kind words I do not belong in the pantheon of Mr. Seidman. The man served his country unbelievably well. I never even knew if he was Republican or Democrat. I always felt he called it straight. He did save the country, along with a couple of other good people, from a banking collapse. And he will be missed.”

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