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Jim Cramer on Cash for Clunkers


Jim Cramer, co founder and chairman of TheStreet.com, and host of “Mad Money”, thinks “Cash for Clunkers” is a great idea. 

Some of you may agree and some of you may disagree with his theory, but here are some of his reasons why:  

  • If the total price tag of C4C is $4 to $5 billion dollars, big deal – we spent more than that on Corn Flakes in Iraq.
  • General Motors and Chrysler are already welfare queens, at least C4C lets them move some metal.
  • C4C gives Ford, which Cramer calls “the most important auto company with the best lineup of fuel-efficient cars” a chance to stop burning cash, offer refinancing and perhaps equity offers.
  • The environment will be cleaner – “We are doing something good against global warming.”

Source: Blogging Stocks

 

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