Jim Cramer on the politics of Satellite Radio
At one point in time, I actually enjoyed his banter and his advice seemed to make sense, but the circus that is Mad Money just continuously rubs me the wrong way. I just can't stand it. I even blasted him about a year ago, flat out calling Cramer an idiot about his persistent merger talk (oops).
But a recent video clip about the politics of the satellite radio merger really sums it up nicely. And I have to give credit where credit is due.
When we hear about how the political weight of some comments - such as those from 78 Congressmen - being stronger than the majority, Cramer explains it as such:
"All they really care about, a lot of these guys, is getting re-elected," Cramer said. "So the last thing they want to do is piss off a radio station in their town."
Cramer goes on to say that Sirius and XM really "have no defenders whatsoever in the Capitol, which is why they're willing to do the unthinkable, which is to unbundle and make it so that they can't make as much money per customer."
The "unthinkable" is generally bad business, as investors want to see corporations squeeze every penny from each and every subscriber. But for the customer, it's a pretty phenomenal deal.
Anyway, I think it's a good video to watch, even though I'm still not a fan.