X - Jim Cramer Slams FTC Chair Lina Khan's Policies For Hampering Investor Returns: 'One-Woman Wrecking Crew For Your Stock Portfolio' | Benzinga
CNBC’s “Mad Money” host Jim Cramer expressed concern over the damaging impact on investor portfolios, attributed to the policies of Federal Trade Commission (FTC) Chair, Lina Khan.
What Happened: Cramer’s criticism, aired on Monday, centers around Khan's opposition to mergers and acquisitions. He posits that such actions have negatively impacted stock valuations, citing the case of the proposed merger between Nippon Steel (OTC:NPSCY) and United States Steel Corporation (NYSE:X).
Cramer argues that the premium Nippon Steel was willing to pay for U.S. Steel indicates Wall Street’s undervaluation of the latter, a trend he links to an overemphasis by investors on interest rates.
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Furthermore, Cramer suggests that potential mergers and acquisitions could promote competition across different sectors. He presents hypothetical examples of possible mergers, such as Merck (NYSE:MRK) with Bristol-Meyers (NYSE:BMY) or Kraft Heinz (NASDAQ:KHC) with Hershey (NYSE:HSY) or General Mills (NYSE:GIS) ...