Great moments in punditry, Lenin edition
Jim Cramer has decided that people upset at Wall Street bonuses are in fact revolutionary Marxist-Leninists, intent on “stringing up guys like John Mack and feeling great about it”. A brief edited transcript, if you can’t bear to watch the whole thing:
Melissa Francis: Jim, let me ask you very quickly: what did you think about John Mack’s answer to the big question of the day, which is the divergence between Main Street and Wall Street. We see Dow 10,000, and bonuses are back; at the same time Main Street is in a shambles.
Jim Cramer: When I took a Master’s reading communism we learned these things. I took seven courses in communism. Lenin when he came in in 1917 thought that the bankers were making too much money, and confiscated all the wealth. The peasantry felt terrific about it. The bankers, many of them, were killed. And there was a terrific surge of opinion that Lenin was a great man. It didn’t work out.
It’s very easy for me. I know that, I can do that rap, I studied it. I know most of Lenin’s speeches during the period. And it’s really about stringing up guys like John Mack and feeling great about it. I’m not being facetious. I studied Lenin, and I was very caught up in this notion that the peasantry should win.
Melissa Francis: Speaking of the peasantry, let’s give ’em some trades.
(HT: David Gaffen)