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

[MsMontana]

This guy is nothing more than a loud mouth egotist. Believe me, If Obama, or any economist thought Cramer was worth a sh__, he would have been contacted by now. This guy is for ratings, only. I feel sorry for those foolish enough to follow his advise.

[nibblybits]

How will he feed his coke habit on a government salary?

[tea in the harbor]

Sure, we need a loud mouthed self promoting ego maniac in that position. And it would be helpful if he were incapable of admitting any wrong!

[jimmyjones22]

lol, was all caps really necessarry?

I mean, its not like the guy was yelling, he always talks like that. Granted, he's a lot more entertaining that McScrooge, er,... I mean chris cox...

[pointyheadprodigy]

And Weird Al to run the CIA!

[YellowPanties]

best comment of the day!

[TwentyCharactersLong]

Actually, that would probably be a better choice than Cramer.

[wadda]

Just another instance indicating he's a loon.

Pay no attention to the raving little man on the tube.

[jparso3]

This coming from a guy who was pushing Bear Stearns and Wacahivia stock just before both collasped. Cramer has no crediablity

[Downix]

It might be megalomania, but truth is, he has a point. He is without a doubt one of the most hot-headed, and ruthlessly honest guys in the business. I would seriously consider him. Plus would give a high-profile in a good way. If Cramer is willing to surrender the show, let's give him his shot.

[lornejl]

We need someone energetic for the SEC job, Cramer seems like he could fall asleep at any moment.

[XXYR]

Interestingly, this is the first time an ALL-CAPS transcript has been so appropriate.

[Chibikim]

LOL

[AllenD]

No way! The last thing we need is someone who was telling people to buy stocks on CNBC that his hedge fund was selling. This guy is as big a crook as any of them. the only silver lining with Cramer as head of the SEC is that he may be good for comic relief by throwing a chair or two.

[janinei]

Isn't this the guy who got busted for promoting his buddies stock that went under??

[mathme]

Well, I do have a policy of giving anyone who was on Arrested Development a lifetime pass....

[satyriasis]

I'm not for Cramer getting the job but I still think he's qualified. He's been more right than wrong on this crisis than most commentators in the financial press.

[BigBagel]

He was way behind on the housing meltdown. Now he doesn't want 'to punish the stockholders" of the zombie banks. That's the deal when you own a stock. It could go up 500% or down to zero. It's not the taxpayers loss.

[compulady]

Put a sock in this guys mouth to shut him up.