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Cramer calls fed merger help ?MAD?

Jim Cramer, host of CNBC's "Mad Money" said this week he had been in favor "of every single bailout" until the auto industry came knocking. He slammed the idea of government help to make a General Motors Corp.-Chrysler LLC merger work because that would result in a "bailout" to Cerberus Capital Management LP. He called that "a crime" that would bring a "big backlash." "They're just rich people," Cramer said, adding that if Cerberus didn't lose money on its investment it would send the message that it "pays to be reckless." He said the government should support automakers to protect employment, but only if current auto shareholders "were wiped out."

Cramer calls fed merger help ?MAD?
xcel, Nov 2, 2008
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