Mad Money Machine

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Cramer Apologizes for Apologizing

Also on last night’s Mad Money, Jim Cramer apologized for apologizing on Monday for recommending Wachovia. Confused? Apparently so is Jim. Two weeks ago he had Wachovia CEO Steel on his show. Steel talked completely positively about his bank. Cramer went along. Then when the FDIC fed Wachovia to Citigroup last week, Cramer apologized for saying nice things. Then yesterday when Wells Fargo bought Wachovia fair and square, Cramer apologized for apologizing, wearing on his chest the scarlet letter “J” which he said stood for “Jump to conclusions” or, later, “Jerk.” ┬áHe removed Steel from his “Wall of Shame” and indicated that he should be up there instead.

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Sat, October 4 2008 » Blog, Cramer