Cramer said Cuomo’s decision to question the housing bubble and the proliferation of no-interest, nothing down, tell-me-any-story-you-like mortgages was positively anti-American.
Jim says doing this will shut down Washington Mutual, Fannie Mae and Freddie Mac... three companies that were not able to remain solvent on their own due to the housing collapse.
March 27, 2009: Single Family Home Prices, Adjusted for Inflation, Down 1.6% Since 1979Note the ticker on the screen shows the S&P500 was at 1495 when Jim want on this rant.
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Jim Cramer quotes:
- “Cuomo’s about confiscation — genuine communist”
- “The Chinese are capitalist, we got a communist.”
- "Cuomo says 'Lets make it harder to get a mortgage'"
- "Cuomo says Lets make it harder to lend"
- "Cuomo says 'I am going to shut down the mortgage market'"
- "Cuomo says 'I am going to make it harder to get a loan.'"
Since 12/31/98 "Kirk's Newsletter Explore Portfolio" is UP 94% vs. S&P500 DOWN 14% vs. NASDAQ down 28% vs. Warren Buffett's Berkshire Hathaway (BRKA) up 37% (All through 12/31/08 ) (More Info & Best Investment Letter)
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