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

[Giada]

Mr. Cramer, I'd like to introduce you to Campbell Brown. She, too, is interested in her 5 minutes of disruption.

[tailgateshirts]

Enough people listen to him nightly with their money, seems like hed have a majority if it went to a vote between people.

Nightly people call up with stories about how hes made them so much money, imagine this for the country.... may not be that bad of an idea

[TwentyCharactersLong]

I seriously doubt he has a majority. Plurality, maybe.

[jeffp26]

I know Jimmy, and with all due respect, I would be a better SEC chairman.

Jim knows a lot about markets, but I know more about the bs regulatory regime that kisses up to wall street when it should be spanking it!

[RobinLandseadel]

Hell no!
One of the significant features of the Bush disaster is the debasing of all levels of culture. This was the era of "American Idol", of Britney Spears, "Idiocracy" and loud-mouthed talking heads on Cable "News." Jim Cramer is the problem, not the solution.

[ventanna]

jim cramer would be an excellent choice for SEC Chairman. The uptick rule omission needs to be immediately repealed. Other changes are required to make the stock market a level playing field. I am tired of short sellers machinations. Reform and enforcement are imperative. The outrageous situation of the uptick prohibition not being in force contributes greatly to the volatility of the market. We need someone who knows the tricks and in and outs. This may be the most important area to be addressed. ACT NOW !.

[MajorKong]

Isn't this the guy who telling people to buy Bear Stearnes the day before they went under?

[Yuma]

Yes! and Yes!
He was so.....................Off.
I lost money.

[StaggerLee]

Please, if he was to appoint someone from the media it should Krugman not the economic Tasmanian devil.

[GrkAm]

Stagger . . . I totally agree! Paul Krugman would be an excellent choice. He makes so much sense.

[GerryS]

PK said he wasn't interested- said he did not have the temperment.

[realitycheck7]

for some reason I trust him to be SEC chairman

[rmetz74]

Um, no.

[shaytoonee]

Obama should give him the job. I think he would be very very fair. OBAMA GIVE HIM THE JOB

[RogerRantjet]

Nah. He's way too low-key.

[R1Rider]

If anything, the SEC needs to investigate Cramer for artificially hyping and manipulating stocks throughout his career.

[YellowPanties]

Give examples, because it's obviously untrue, and what you've written is libel.

[vcalzone]

Why don't we just say that he might as well have.

[Yuma]

Agree!

[TScheisskopf]

In spite of every lick of sense I have ever had, Jim would "get religion", put the fear of God in a lot of the sociopaths on Wall Street and kick some serious butt.

And be vastly entertaining to boot.

Might be the best entertainment value going.

[Mapleave]

Chris Cox is a horror and very much responsible for the mess we are in. Period. He was told what NOt to do. Sickening. Good riddance BushCo. Crooks and liars.

[R1Rider]

LOL! This guy who was screaming buy at the top of the housing market? Screaming buy buy buy at the top of the Internet bubble in 2000? Thanks, but no thanks!