TheStreet.com RealMoney

Of Course Policy Matters

By Jim Cramer

About this article:
Join Jim Cramer, Doug Kass, Helene Meisler and other RealMoney pros at TheStreet.com Investment Conference on "Best Ideas to Make Real Money." Save the date: Saturday, May 2! More details here. Every time I hear that policy doesn't matter, that rules don't matter, that nothing can be done, I think two words -- "Lehman Brothers." For those of you who think that it doesn't matter what government does, ask yourself whether you would feel the same way about the world today if Lehman Brothers had been bought by another bank, and we would not have had tens of billions in bonds and preferreds destroyed, the buck broken, tens of billions in margin accounts that vaporized, a fire sale of bad assets driving all prices down, a sense of chaos as you knew the government had no plan, even after Bear, Fannie and Freddie and everything else that happened....

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