Claude Van Damme, Mayor Draghi, United States discussed on MAD MONEY W/ JIM CRAMER

Automatic TRANSCRIPT

Now there was a time when the big banks the world world shake your footing and far more intertwined in the art today back then these contagious stories gravitas that's no longer the case these are reasons to buy our banks not to sell them but try telling that to the seller soup panic today in the old days it made sense for the us market to go down the detained financial crisis seven years ago we had a similar situation italy at the time that your pin central bank was raising interest rates to fight non existent inflation when the real illness was deflation john claude trichet the now disgraced sent central bank chief raise interest rates twice right into the teeth of recession john claude van damme would have been a better central banker on november nine twenty seven italian tenure hit seven point four eight is government broke down south near the turmoil caused buyers to void new italian bond issues sound familiar worrisome is it always the third largest bank it used to hearing that because it's meant to freak you out this spillover was the dow plunged eighty nine points from twelve thousand eight hundred seventy two thousand seven hundred eighty one in a move it was this catastrophic as it was ridiculous i say is in retrospect there was no one ever a new central banker mayor draghi took over the starters bond by program the italian market among the greatest single investments in history right went almost every expert was telling us it would collapse the corners before as appointment was predictably concentrated in vigil financials or the globe but let's just stick to a home with this cookie ajay maureen stock dropped from thirty five to thirty two on that big down day and before rallying a bit and then finishing member of twenty seven at twenty eight dollars turns out get this twenty bucks right do you know it was the last big buying opportunity for the stock quadrupled key magic acquired drubel this full european scare sends the world's premier fans down hard and.

Coming up next