Diary

Cramer's Remorse, IX: The Telco (Non-)Trust, Plus, Obama's Energy Fixation

Cramer has a bit of a double feature today in his morning column, “Telcos as a Trust? Are You Kidding?”, where he looks askance at the Justice Department’s investigation into the idea that AT&T and Verizon have crossed that ever-so-subjective line into anti-competitive behavior.

Mind you, on this one his disdain for Bush is not omitted, as the theme of the day on TheStreet.com seems to be “Bush was lax on regulation, now Obama may be overcompensating”.  But even there he twists back on himself, saying that while the Verizon-Alltel merger should have been investigated, the investigation should have cleared it.  So Bush was wrong to not waste time on an investigation that wouldn’t bear fruit?  Um… if you say so, Crames.

Cramer sort of sums up with a textual shrug saying that Justice is running this investigation out of a need to look like they’re doing something.  Which bring us back around to the question, if the new, tougher antitrust division is having to invent wrongs to right, was the division under Bush all that lax after all?

Fiscally conservative Democrats.  Who can figure them out sometimes?

Anyway, the second feature comes in the Cramer’s “Random Musings” attached to the column, where he talks about a topic that he feels doesn’t merit a full column.  Which is an interesting judgment call, given that the topic is Obama’s suicidal energy policy.

Since it’s just a short take I’ll take a chance printing it whole and verbatim and making it the Money Quote:

“What is it with this administration that it’s unwilling to push for nuclear and natural gas to bridge to nuclear? What is its fixation with something that can’t yet be done — nationwide adoption of alternative fuels — without severe power shortages? We are obviously ridiculously sated with cleaner-burning natural gas. Obama could care less. The stance is so impractical as to be unnerving.”

On second thought maybe that does say it all.