Jim Cramer is no fan of Nouriel Roubini. Last month, after Dr. Doom called the Mad Money host a “Buffoon,” Cramer responded by telling Roubini to come on his show and say it to his face.
Today he’s pissed about Roubini’s WSJ op-ed calling for bank nationalization.
Joshua M. Brown at the Reformed Broker grabbed this quote from Cramer from Real Money Silver this morning:
Today Roubini, my favourite perma-panda, takes on Warren Buffett in a piece entitled “We Can’t subsidise the Banks Forever,” in the Op-Ed section of the Wall Street Journal. This debate reminds me of the Pope v. Stalin when Stalin responded to the query about the pope being an opponent with “How many divisions does he have.” The simple truth is that the professor can’t stand up to the nation’s bank arbiter and this veiled attack seems like sour grapes as the answer isn’t that we subsidise banks forever, it is that we subsidise them for as long as we have to. Does Roubini favour nationalization because he has people short through this RGE Monitor outfit? Is that what this is all about?
For what it’s worth, we’re pretty sure the answer is no. RGE Monitor isn’t a stock picking service, though Roubini was calling this a “sucker’s rally” as early as mid-March.
If there’s any reason to cast doubt on Roubini’s motives, it has nothing to do with short-selling, and everything to do with the fact that the financial crisis has been good to him, and were things to normalize out, Roubini will likely become less relevant and less in demand.