iTulip High Commissioner, Select Premium Member, Canada and Persian Gulf
Re: Interview with James Scurlock, Creator of "Maxed Out"
Congrats to EJ and the iTulip team for once again being well ahead of the curve with the Scurlock interview.
For a bit of amusement in these turbulent times check out Jim Cramer's revisionist article "Bloody and Bloodier" on the New York Magazine website. As recently as May 7, in the same publication, he was advocating buying the shares of these same i-banks. EJ's profile of Cramer, and the psychology of his ilk on Wall St., suggests that having been caught holding the bag this time, the masters of the universe will not go down without a dogfight. Yesterday's remarkable recovery in their stocks late in the session seems another good opportunity for insiders to distribute, all the while uttering incantations that they "see value" and a "buying opportunity".
In 1929 there were repeated whispers of "organized support". In 2007 it's whispers of a "PPT" and "the Fed will ease"...
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