Jim Cramer Whines About Elizabeth Warren Over Pharma Profits
Call the Waaaambulance! Jim Cramer whines that "no one will make any money!" if Elizabeth Warren's plan for pharma pricing goes into effect.
It's a great day for Elizabeth Warren when a Wall Street profiteer like Jim Cramer implies she's a Commie for limiting Big Pharma profits.
You say that like it's a BAD thing, Jim!
Cramer took time out of his segment on "Squawk on the Street" Monday to take specific aim at Warren.
CARL QUINTANILLA: This is true.
CRAMER: Because if you get a drug, a cancer drug say, from Italy, that's what they're going to sell them for here from Bristol-Myers, forget it, there's no profit. There's just no profit, you know but Elizabeth Warren is calling for -- it's very different in terms of if she becomes president. I think she's calling for a downturn of 20%?
QUINTANILLA: In the market? Sounds about right, yes.
CRAMER: Well, that's what she's going to give you. [laughter] But if you don't -- let's say you're a worker and you don't earn any stock, what do you care? But I read that position paper last night in preparation of being on "halftime," and I read it and said, all right, okay, she doesn't want anybody to really make a lot of money, but that's what she wants.
QUINTANILLA: Right.
CRAMER: She's even talked around China and the president --
QUINTANILLA: Yeah, well, we'll get a debate this week there are some pieces out this morning on how the Dems are sort of punting on the China tariff, like they don't have any better...
CRAMER: It's a very worker-friendly -- don't forget that Nancy Pelosi didn't say anything bad about the tariffs. By the way, Kamala Harris comes out basically with a plan that is not single-payer. You know, Elizabeth Warren -- I was in Italy recently -- she's got an Italian plan for our country, you know? Italy. Italian. Italian plan.
QUINTANILLA: She's raised a fair amount of money.
CRAMER: She's going to win in Iowa. I think she's -- she's a -- she's just a wow! You know, a spark plug, but I do enjoy her because she tests capitalism, tests the basics. Ken Langone's [Billionaire right-wing founder of Home Depot] probably not going to give her any money would be my guess.
QUINTANILLA: My guess, too none from Ken. (laughter)
CRAMER: But there are two guys, they think she has it won: Marx and Engels. Engels would say she's coming along, but she's not there yet.
QUINTANILLA: She's a work in progress.