Cramer also pointed out that the executives in question “made millions” over the past nine years, allowing them a significant savings off which to live in the meantime.
“So I don’t feel any sympathy for these people,” he said.
Switching to Galleon Group, Cramer predicted the hedge fund would be just the tip of the iceberg of the government’s continued inquiry. He likened it to the investigation of Ivan Boesky in the 1980s.
“The tentacles of Raj [Rajaratnam] were big,” Cramer said of Galleon's founder, meaning the list of potential defendants could grow.
Cramer's charitable trust owns Bank of America.
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