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Towleroad Guide to the Tube #159

MARKET MELTDOWN: Mad Money host Jim Cramer flips out over the crash of the housing market. Cramer explains his meltdown...

NOAH AND LUKE: The latest from the gay storyline on As the World Turns.

GAYS FOR GIULIANI: Odd tactic. Activist attempts to trot out stereotypes to scare Republican base.

GAY MARRIAGE on THE VIEW: Elizabeth Hasselbeck actually says something sane. (source: good as you)

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  1. Yeah, screaming and yelling definitely lends credence to your position. I'd say Cramer probably owns lots of Washington Mutual stock.

    Posted by: peterparker | Aug 7, 2007 4:33:50 PM

  2. Wow, that Giuliani ad is just...wow. It makes me want to believe in karma, so those actors get it up their asses (by "it" I mean karma...)

    As for The View, that's another wow. Hasselback actually making a good argument. Maybe she got laid the night before and was relaxed and easy-going that day?

    Posted by: Donny B | Aug 7, 2007 4:50:53 PM

  3. Peterparker--

    I don't think you understood his point. He was actually undercutting WaMu (and most of the money lending market) suggesting that there was tons of bad housing debt out there and that people needed to stop investing in the mortgage market unless there's some kind of change.

    It was frankly pretty heroic for someone in such a confidence-driven industry to admit the gravity of the economic situation that's been created by all these teaser loans. If something isn't done, the economy is going to get a whole lot worse in the next few years.

    Posted by: Dan E | Aug 7, 2007 4:51:07 PM

  4. Dan E...it appears I did not understand his comment at all...I thought Cramer was telling people who've been priced out of the financial markets to invest in stocks and just snuck Washington Mutual in there as a plug. But your explanation makes more sense.

    As for Hasselbeck...does anyone else here think that she might have been scripted to say those things? After all, there was a clip here on towleroad a few months back in which (if I remember correctly) she advocated civil unions for GLBT folk, but not marriage. And now, post-Rosie, she's saying that denying marriage rights to queers weakens the institution of marriage. A bit of a flip-flop for someone who always seems so set in her ways. I have to wonder if she was scripted and ordered to say those things.

    Posted by: peterparker | Aug 7, 2007 5:15:18 PM

  5. re: Cramer Meltdown

    good for him. he's absolutely right that unless the Fed steps in (unlikey) and acts quickly the next 18-24 months will be bad. The mortgage mess won't just stop at the $75,000/yr worker who thought he could afford a $600,000 house, but will entrap virtually everyone who does not already have a fixed rate loan.

    re: Elisabeth

    Let's not get to carried away congratulating her on these comments - which, yes made sense and were a note of progress for her. Just yesterday, however, she declared that science and faith were basically the same thing and it was perfectly ok to blend the two things together to explain the inconsistencies of both paths. My guess is that the reality is that she relies on science (the pill) in the form of birth control and not faith.

    Posted by: hoya86 | Aug 7, 2007 5:25:02 PM

  6. At least someone is talking about people losing their homes and jobs. (Even if it’s Wall Street clerks). The US “financial markets” are a disgrace run by ponsi schemers and pyramid scam brokers. The Federal Trade Commission for all intents and purposes doesn’t exist. And the justice department comes down hard on anyone trying to expose the shams of the FTC, the market itself and the Federal Reserve. The inmates took over the asylum about 6 years and started printing money that has little value. Look for the gold market to spike at the beginning of a true market meltdown. Of course in any market correction it’s the small greedy investors (you know the ones saving for retirement) that get screwed royally. For the big boys at the top its’ just another day in Potterville.

    Posted by: ggreen | Aug 7, 2007 5:52:38 PM

  7. Cramer had a meltdown, indeed. But he is pretty much right. No one is really talking about the calamity that is about to unleash. And GGREEN is right. Watch the gold people, watch the gold!

    As for Elisabeth, my husband actually likes her which means on the rare occasion that we see the View we end up arguing.

    As for the Giuliani thing, they have targeted the wrong man. There is no way the Republican base will allow him as their nominee. In fact, the stage has been set by Dobson and he has appointed the new king. His name is Gingrich and he will announce late September. Newt kissed the ring of Papa D a few months back and ensured his blessing.

    Posted by: Jon-Marc | Aug 7, 2007 6:45:00 PM

  8. I have heard Elisabeth defend gay marriage before. Love her or hate her, she is what neo-neo conservatives will look like as the "young folk" begin to not give a rat's ass regarding who gets married and are not surprised that there is more to "family" than a man and a woman making babies.

    Posted by: KJ | Aug 7, 2007 7:08:09 PM

  9. Why is what E Hasselback says about marriage more important than what I think? Why what Cramer says is any more important that what I think about the mortgage market. Ask why?

    Posted by: himbo with highlights | Aug 7, 2007 9:36:03 PM

  10. Thanks for the clip of Noah and Luke. They showed a hot preview from this week of the two of them shirtless and getting intense.

    Elizabeth has discussed gay marriage indepth before. Remember that after the show video she did with Will Wilke? I think her friendship with Rosie at the time made her realize that families are more than just a man and woman having babies.

    Posted by: Roger | Aug 7, 2007 10:32:00 PM

  11. The Giuliani ad is brilliant. Watching the Elizabeth Hasselback clip afterwards it occurred to me that political strategies are getting more and more complex and wily. Keep your eyes open during the upcoming presidential elections. Not everything will be black and white.

    Posted by: gwyneth cornrow | Aug 8, 2007 10:20:00 AM

    Nothing to see here Andy please show some editorial restraint HELL some taste in this case.
    Wait until Whoppi comes on before you start plugging for ABC Daytime Please.

    Posted by: MCnNYC | Aug 8, 2007 2:48:37 PM

  13. Elisabeth Hasselbeck? The same Elisabeth Hasselbeck who once said that gay marriage would lead to people marrying their toasters?


    Posted by: SC | Aug 9, 2007 4:25:31 AM

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