Industry News

Rookie vs. Cramer: A closer look at subprime fallout

Diary of a real estate rookie

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Let me start by saying that, while I am a respectable married woman, I LOVE Jim Cramer. Those of you who don't know who Jim Cramer is aren't among the 1 million YouTube viewers who have watched him freak out -- there's really no better term -- over the past week. Cramer is a stock market investor and commentator, probably best known for hosting "Mad Money" on CNBC and co-founding (an Internet media business that I lost a couple thousand on the options of, but hey, I love this guy so much I forgive him). Cramer -- who graduated from Harvard 10 years before I did -- has developed his media reputation as a man who froths at the mouth, but the CNBC video clip currently circulating is over the top, even for him. You watch him doing market commentary on interest rates and the current situation of Wall Street firm Bear Stearns, and you really think the guy is going to have a heart attack. His argument, basically, is that markets are in peril unless the Fed opens the discount wi...