Friday, September 19, 2008

Jim Cramer's Next Move

OK the market is nuts. The Republican administration has called the fire brigade. But the guys in charge only have a few months left and most of them want to be out on job interviews. Senator McCain is on record that the current SEC Chairman should be fired. Senator Obama if successful will need to restaff extensively. SEC Chairman Cox is clearly a Republican appointment.

Given the mess with traders, funny money CDO's and God knows what other malfeasance exists who would be best suited to run the SEC and try to bring order to this chaos. Well FDR turned to Joe Kennnedy on the basis he had the best skill set and understood the game and more importantly the game players and their psychology.

Today that man could very well be Jim Cramer who you may have seen on CNBC. He does not need the money and is not polishing his resume. He understands traders and their mentality. He appears to have a sincere interest in teaching the newbie's and little investors. A particularly important point in a democratic society where everyone is supposed to have a decent chance. He does not appear to think as a lawyer reading a boring prospectus.

He would be tough enough to bark the market back to where it should be. I could see him play the role of peoples tribune and not Wall Street operator.