OLD Media Moves

Cramer says he's trying to help the poor

October 8, 2006

In a Q&A interview with Baltimore Sun reporter Laura Smitherman, “Mad Money” host Jim Cramer said that the rationale behind his CNBC show is to help people who don’t have a lot of moeny get some.Jim CramerSmitherman wrote, “His is a kind of Marx-meets-Robin-Hood philosophy: ‘We are at a strange time for capitalism in our nation,’ he explains. ‘It’s like if the poor are poorer, it’s their own fault. I look at it differently. I say, well, I made a lot of money for rich people, so why don’t I try to make a lot of money for people who aren’t rich.'”

Later, Cramer provided his views in a wide-ranging Q&A format. Among his opinions:

His investment strategy: “Eclectic.”

On heavy stock trading: “Commissions are incredibly low. The information is all available on the Web. Taxes are outrageously low versus what they should be. … Anybody who set up a philosophy that says trading is bad is not looking at the fundamental structural changes in both the tax code and the technology behind the industry. I think they’re being reckless with ‘buy and hold.’ They think that I’m being reckless. I think that I’m being prudent.”

Read more here.

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