Jim Cramer repeats his most famous line
Jim Cramer called for a massive stimulus on CNBC just now.
Asked if anyone in government understand the scope of the problem, he said:
"Absolutely not, they know nothing. They know nothing. We know more than they do and that's not acceptable. I want the Federal Government to know more than me. I knew more than they did in 2007 and I know more now. It's unacceptable. This is a situation where if everyone takes the revolver at the same time, we're not going to be worried about the companies that take down the revolver. We need someone who understands. We need to make the country work smoothly until we get the kits."
CNBC has changed its operations to not have guests and is basically operating in an empty studio and doing phone interviews.
"Are we going to sit here and let so many companies go bankrupt because of the illness? I think that is stupid. This is the time for radical action," he said. "The action can be done by the federal government. Once we settle that out and stop worrying about money, we can worry about health simultaneously. Right now we can't do both."
"I see a number of companies in the S&P 500 that could easily go bankrupt in the next four weeks. Does that make any sense at all? No," he said. "We don't want to reformulate any corporation because they can't get paid."
