CNBC’s Jim Cramer Shreds Preferential Bailout for Cruise Company Run By Trump Pal

CNBC’s Jim Cramer is irate over the bailout for Carnival Cruise Lines — and questioning whether it is a case of crony capitalism.

Appearing on CNBC Monday morning, Cramer reacted to a Wall Street Journal piece detailing how Carnival — thanks to the Fed launching a massive lending program — was able to raise $6 billion in bond markets at drastically reduced interest rates.

“I thought [the information in] that piece was a disgrace,” Cramer said. “But you know what? We’re in an era today where nothing is a disgrace. Everyone knows, but nobody likes to say it. ‘Cause then, suddenly, you’re lamestream.”

Cramer went on to reference that Carnvial is run by Micky Arison — a longtime pal of President Donald Trump. Carnival was a sponsor of The Apprentice for years, according to the Washington Post. And Trump and Arison have spoken recently, and the president has mentioned Arison by name during several briefings over the past six weeks.

The CNBC commentator suggested that Arison’s personal ties helped get his company bailed out.

“Let’s say you’re the Federal Reserve,” Cramer said. “Do you want Macy’s to go under? Is that more important or less important than Carnival? Carnival — which was a principal, let’s say, purveyor of Covid-19 that’s killed a lot of people. Macy’s hasn’t killed anybody. Should we give Macy’s a loan? Should we help them out? Or are we limited to companies that, run by Micky Arison?

“I’ve gotten quite cynical. When I read that Carnival piece … your eyes glaze over now, because everything’s so cynical. But I wonder why Carnival gets the backing of the Federal Reserve after being an actor that I think we could all question. And Macy’s, which does fireworks … Which is more dangerous?”

Watch above, via CNBC.