From Felix Salmon

Jim Cramer: When I took a Master’s reading communism we learned these things. I took seven courses in communism. Lenin when he came in in 1917 thought that the bankers were making too much money, and confiscated all the wealth. The peasantry felt terrific about it. The bankers, many of them, were killed. And there was a terrific surge of opinion that Lenin was a great man. It didn’t work out.

It’s very easy for me. I know that, I can do that rap, I studied it. I know most of Lenin’s speeches during the period. And it’s really about stringing up guys like John Mack and feeling great about it. I’m not being facetious. I studied Lenin, and I was very caught up in this notion that the peasantry should win.

One of my aching concerns in the wake of the financial crises is over reaction. We need reform, yes. I have been convinced on vanilla products, yes. I am even opening up to the idea of reducing the size of the money center banks. I have thought since 2001 that we need a much more progressive tax system.

What I am concerned about, however, is a growing sense that Capitalism itself is a net negative. That’s not what the liberal wonks are arguing but it is what much of the country is grumbling.

From Nate Silver

Socialism is a dirty word in much of America, but Capitalism doesn’t sound great either.

However, in these turbulent time comparing financial reform to Leninism is not doing Capitalism any favors. Everyone on the ground thinks bankers make too much money. Effectively Cramer is telling them that they should be more open Leninism because they’re aren’t going to be more open to bankers taking home big pay checks.