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Mad Mail: Cramer Talks Naked Short Selling

Jim: What are your thoughts regarding the SEC's new actions to restrict short selling? They failed to reinstate the uptick rule and issued a much-nuanced guideline for naked short-selling. Did the SEC come up short in its efforts? --Tom

Cramer says:Senator Kaufman (of Delaware) was on … he called for exactly this issue on the naked shorting … I thought that was great. That was a good first step. And they have not defeated the uptick rule. Let’s hope they go and roll everything back. There’s lots of chatter that says it doesn’t matter. These are people who have never traded before. If you traded before, you know that it slows things down, gives the market a chance to catch its breath. And that’s what we want.”

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Jim: I love your eight points from the "Capitalist Manifesto" to create jobs in America. Those are some of the best ideas I have heard yet to stimulate job growth. Are there two or three points the government could enact right away? --Matthew

Cramer says: “I think we do want to take off card check. I think we do want to be immediately cognizant of something that T.J. Rodgers said earlier, which is that if we gave the private sector a bonus if they hire workers, then that’s the way we put people to work in the private sector. This is not rocket science.”

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