Cramer: Nobody has any money.

Crammer: "I am frightened"	LimeJuice	NEW 8/9/2007 1:07:45 PM
3:47 PM EDT You Can Hear the Fear on the Street--And that's what's really scary. Whenyou speak to people in bonds, you are hearing three words that you arenever supposed to hear: "I am frightened." No one in this business isever supposed to use those words. But I am hearing them all the time. Thecomplacency is gone. The fear is palpable. And it is not good. Youdon't want these people fearful. These people -- hate 'em or like 'em-- are the lubricants of the American engine. Finance is necessary.There's no one here worth punishing. What's amazing here, at this very moment, is that it appears that no one has any capital to deploy. No one has any money. That'sbecause it's all tapped out. The hedge funds that like this stuff areup to their eyeballs in it. The funds of funds that overlook this stuffare running from these hedge funds. That's why people are frightened. I was never frightened on my trading desk. Or at least, if I was I never said it. ThatI am hearing it says that those who come on the air and say not toworry are simply either liars or are doing no amount of homework. Ormaybe, just maybe, they are looking at silly short squeezes like thosein Beazer (BZH) and MGIC (MTG) and getting bluffed out of their shortsinto thinking that everything is fine.
RE: dude spends hours of airtime convincing	skitchfree	NEW 8/9/2007 1:16:51 PM
me to not panic, now he's pissin his pants like a little girl who lost her lunch money. THEY HAVE NO IDEA, NONE!!!NONE!!! NO IDEA WHAT IT'S LIKE OUT THERE!!NONE, NONE!!!
RE: Fear is not the problem	bear_with_me	NEW 8/9/2007 1:19:37 PM
The problem is that nobody was frightened before now. Nobody was afraid of risk. They got themselves into this pit. Whereis the money? It's all in those leveraged buyouts. It's all in thosemillions of new homes built. It's all in bloated equities. It's all inthe consumers ipods, crocs, and buffalo wild wings. It's all in thehedge funds. Where is the money? They know where it is. The problem is trying to convert it to cash.
RE: Hey! don't knock BW3's	parttimebear	NEW 8/9/2007 1:24:18 PM
i like their wings : ) woudlnt touch their stock, but i'd buy a franchise for sure.
RE: "No one here is worth punishing"???	PulpLogger	NEW 8/9/2007 1:29:20 PM
Theindustry wrote trillions of fake AAA bonds. I think they should hang,though would give a free pass for any they were able to sell to ourChinese 'trading partners'.
RE: laugh of the day. :-) nm	definitionofbear	NEW 8/9/2007 2:11:37 PM
RE: Crammer:	5to12	NEW 8/9/2007 1:40:32 PM
What's amazing here, at this very moment, is that it appears that no one has any capital to deploy. No one has any money. So, we enter further into the processof risk recognition and Global liquidity crisis -- models 'forgot' a'giant pool of liquidy' can freeze up though this may work out to be ona quite extreme scale, well beyond the 97-8 Asian Crisis. So, we will discover the real limits to central banking, and likely not a happy discovery.
RE: Cramer turned Bear?	Rainmaker	NEW 8/9/2007 2:43:11 PM
Funny how Cramer turned into a bear...someone gave him the green light. Cramer:There's paper for sale everywhere, and there are no bids whatsoever. Ihave seen AAA paper trading at 300 basis points above Treasuries. Ihave seen things that I had no idea could occur: paper that is worthsomething like 80 cents to 90 cents on the dollar being traded at 20cents. Nobody has any money.