optionarm defaults: Jim Cramer: "The Worst Is Over"
- 07/17/09 04:24 PM
Despite RealtyTrac's recent announcement revealing that foreclosure filings surged 33% from last year, Jim Cramer is refusing to back down from his shameful housing bottom call that he made in June. In fact, Cramer took his prediction one step further on Thursday when he wrote, "the worst is over" while referencing JPMorgan Chase's recent earnings and statement about delinquencies stabilizing. While the case can certainly be made that the banking system has been back-stopped thanks to TARP, hundreds of billions of loan guarantees made by the Treasury, and some very bank-friendly tax benefits, it is reckless for Cramer to think that the worst is … (9 comments)
Despite RealtyTrac's recent announcement revealing that foreclosure filings surged 33% from last year, Jim Cramer is refusing to back down from his shameful housing bottom call that he made in June. In fact, Cramer took his prediction one step further on Thursday when he wrote, "the worst is over" while referencing JPMorgan Chase's recent earnings and statement about delinquencies stabilizing.
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