Jim Cramer: Make Me The Next SEC Chairman

On CNBC this evening, "Mad Money" host Jim Cramer offered Obama a novel option for turning around the US economy: making Jim Cramer his next SEC Chairman. Cramer, insisting it wasn't his "usual megalomania talking," said that Obama would be smart to give him the job.

Read a partial transcript below.

DO YOU WANT THE MARKET TO BECOME A SAFE PLACE TO INVEST AGAIN? A PLACE WHERE THE PLAYING FIELD BETWEEN THE LONGS, REGULAR INVESTORS LIKE YOURSELF, AND THE SHORTS OFTEN HEDGE FUNDS, WILLING TO DESTROY GOOD COMPANIES IN ORDER TO TURN A PROFIT?

DO YOU WANT THAT? DO YOU WANT A LEVEL PLAYING FIELD? THEN I KNOW WHAT YOU WANT. I KNOW WHO YOU WANT. YOU WANT JAMES J. CRAMER TO BE YOUR NEXT SEC CHAIRMAN. [holds up sign Cramer for SEC chairman with head shot] THAT'S RIGHT.THROWING THE HAT IN THE RING. AS OF NOW, I'M FORMALLY PUTTING MYSELF FORWARD FOR THE JOB OF SEC CHAIR AND I WANT IT. AND FRANKLY, OBAMA WILL BE SMART TO GIVE IT TO ME. THIS ISN'T JUST MY USUAL MEGALAMANIA TALKING. I DON'T MEAN TO BRAG, BUT LOOK, LET'S TAKE A LOOK AT MY RESUME [shows giant prop resume]

I'M A LAWYER BY TRAINING -- I SOUND LIKE AN AD RIGHT -- A STOCK JOCK, A FORMER HEDGE FUND MANAGER, A GUY WHO KNOWS THE TRICKS AND HAS SEEN OTHERS DO THEM. ALTHOUGH TO BE VERY CLEAR, I NEVER DID ANYTHING ILLEGAL OR EVEN CLOSE TO UNETHICAL, BECAUSE IN THE END, I AM A GOODY TWO SHOES AND I ACTUALLY HAVE A NEW PAIR OF GOOODY TWO SHOES.

BUT I HAVE SEEN OTHER MONEY MANAGERS DO THINGS THAT WE ONCE STOPPED AND I KNOW HOW TO DETECT THEM. WOW, HEY LISTEN, HE WENT TO HARVARD, HE MUST BE REALLY SMART.

AS FDR SAID WHEN HE APPOINTED JOE KENNEDY TO RUN THE SEC, IT TAKES A FOX TO GUARD THE HEN HOUSE. THE MARKET NEEDS OBAMA TO DECLARE WHO HE WANTS TO RUN FOR THE SEC.

HE HAS GOT TO PICK HIM SOON. HE BETTER START VETTING ME AND MY COMPETITION. BECAUSE WE NEED CHRIS COX OUT OF THERE ASAP! ON A RAIL! WE'VE GOT TO UNDO COX'S LEGACY QUICKLY.A LEGACY OF SUBVERTING EVERYTHING THAT WAS PUT IN PLACE TO MAKE THE MARKET SAFE FOR INDIVIDUAL INVESTORS, AND EMPOWERING -- THIS IS WHAT HE DID -- EMPOWERING SHORT SELLERS TO CREATE FEAR AND DESTRUCTION.

Comments

[walk0nwalls]

Well at least he got one thing right

Chris Cox is a f$%king tool

[ReasonableBill]

You know, it just might be a good idea. The "silent megalomaniacs" running the place now have really caused problems. BIG PROBL:EMS. Cramer just might be someone people will listen to and I do not think he can be bought off.

[bubbuh]

Jim Cramper, send your resume in. The TT will put it in the pile with the other 200.000 and get right back to you as soon as they vetted them all.

[Berkeleyan]

I support Jim Cramer for SEC Chairman!

[valhalladad]

I second that. He certainly has a little better grasp of economic regulation than a retired Democrat or Republican Congressman. And it will get Cramer off of the television. Everybody wins!

[Excitedforfuture]

Make me the next SEC Chairman!!! I know how to do it!

[MNmommy]

Oh heII to the no!

You're part of the dang problem Cramer - lying to the American public is not cool.

[Tom95134]

BARF, BARF,BARF, BARF, BARF.

[nogimmicks]

The self-proclaimed "goody two shoes" is a perennial cheerleader for the Wallstreet Casino. The "bosses" love him.

[krocklin]

Cramer, like Louis Ruykheyser before him, is a shill, a cheerleader for a system of "investing" whose premise should have been questioned by true populizers with the best interests of their audience in mind.
Where were the voices that explained:
In 2000 we had a crash of major proportions in which many companies NEVER came back and many people on Main Street who had never "invested" lost their shirts; then we had the wave of Enron style collapses, which lost more money for investers; then we had more deregulation and less oversight than before Enron; then when the Middle Class was losing earning power, factories were closing, jobs being outsourced, the Ceos of Fortune's top 400 companies enjoyed increases in pay of 15-20% for every year of the Bush Administration, bringing their average "compensation" and that of their fellow executives up to over 10 times what their counterparts in other nations make, and 10 times more than their predecessors made just 30 years ago?
Who was out there saying this equation = escalating income inequality and that the Stock Market was a gamble and a scam for most?
Who was saying the faulty premise here is that the Stock Market is a religion? As evidenced by people actually believing that if they "parked" there money with a bunch of executives who were draining their own companies, that somehow these executives would give them a return on their money!!!

This was insanity and Cramer promoted it.

[MNmommy]

But we got Sarbannes-Oxley didn't we? Which actually just made it more intrusive for the average worker to find a job.

Oh, and established a new *accountin­g/consulti­ng* industry to get all the businesses up to speed on compliance. Handy, that was.

[Wiserone]

Here-Here! Exactly! Cramer has been a shill for Wall Street and without his bells and whistles he'd be exposed for what he truly is. He is pure entertainment and little else. Seems Cramer has gotten caught up with his own celebrity and should step back and take a good hard, long look at his market pronouncements.

[IDIOTA]

I would say that Louis Rukeyser, though he was a cheerleader for Wall Street, had a lot more integrity than Cramer, whom I have heard dissemble each time I encountered him in the media. He's like a trickster, and he is obviously highly intelligent -- he weaves and spins with volume and celerity.

One more thing that I would add to your synopsis is that the seeds for today's collapse were already sown at the time of the 2000/2001 downturn, but we focused on a celebrity scapegoat -- Martha Stewart -- rather than Citigroup, etc. Now the problem is likely unmanageable, like a juggernaut, and there is no scapegoat to hide behind.

[Judyisacutie]

Unfortunately the agency doesn't come with padded walls. JK, love you Cramer!

[NotMcCain]

Oh, brother. This is the loser who caused so many to lose it all in Bears Stearns.

I don't know how he can show his face any more, much less still be such a blowhard.

[Tenley]

Well Obama's incoming Treasury secretary convinced congressional Democrats to just chill when the Fed went back on its promise of transparency in following the $2 trillion in emergency money to Wall Street. (No wonder the market rallied with Obama's nomination of *that* gift.)

So I say why not go for Cramer, who actually might crack down on abuses, cause it ain't gonna happen over at Treasury.

[PhilipTaylor]

I vote for JOINT CHAIRMEN of SEC including Cramer and Dillion Radigan from Mad Money!

Both these guys have been outraged at the ILLEGAL activities by the BANKSTERS on Wall Street!

They would be far better than COX!

[kutkreata]

He's so loud. I can't watch him

[janeInCA]

No, unless they want the whole stock market sunk.