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We Need Major Failures in Order to Rebuild

By Jim Cramer

 About this article:
 Yes, capitalism needs to be able to work its magic, and its magic is to have failures, wipe out the margined players wherever we find them and get to the bottom of this. We keep thinking that this must happen to General Motors and Ford and Chrysler. It would be terrific to combine them all and have the government take a stake and offer protection to the workers on pensions and health care. But we then have to take the bankruptcies of all the ancillary plays, especially any company that makes products that go into autos. I can accept that. We need to have the solvent insurers buy the soon-to-be-insolvent ones with guarantees on life insurance, disabilities and annuities for people so they get something back. We need to see REITS fail so strong REITS can buy. We need to see banks like Downey Financial and BankUnited go...

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