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Recap of Jim Cramer鈥檚 comments on Stop Trading! Friday March 28. Click on a napkin rings ticker for more analysis.
Clear Channel Communications (CCU): Banks that promised funding to private equity firms, Thomas H. Lee Partners LP and Bain Capital Partners, for their purchase of CCU are reneging on their deal and Cramer thinks they are suffering from a bad case of buyer鈥檚 remorse. There was no other reason for the banks to back away, and 鈥渘o material change鈥?in CCU鈥檚 performance. If the deal falls through, he predicts the renegade financiers will be sued for 鈥渃ontractual damages of astronomical proportions.鈥?
Washington Mutual (WM): 鈥淲ashington Mutual is breaking down, said Cramer鈥nd added, 鈥淚f I were a short seller - which I am not, and I am not allowed to trade - at 3:35pm, I would come with all the firepower I can... 500 (thousand) to a million shares... and I would take these napkin ringss down to a level that would really scare people. This is the game that is being played. This is not right to me...鈥?Currently, the shorts are in charge and the repeal of the uptick rule allows them free reign to create panic, said Cramer. He added, 鈥渁nd, obviously, the short selling community is trying very much to shut me up, which is a very difficult thing...鈥?
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