Quote:
Originally Posted by JoelJohnson
"They're nuts! They're nuts! They know nothing!"
Who recognizes this quote?
|
Jim Cramer August 2007
In an August 2007 interview on CNBC, Cramer ripped the Federal Reserve for not recognizing the risks facing the economy at the time due to a downturn in the housing market. Investors had already started selling stocks and real estate in favor of less risky assets, such as bonds and gold.
“My people have been in this game for 25 years and they’re losing their jobs and these firms are gonna go out of business and it’s nuts. They’re nuts! They know nothing! This is a different kinda market. And the Fed is asleep,”