Jim Cramer Admits Something Weird to Some Weird Guy
Well, this certainly is something.
Here's a video that Huffington Post recently dug up of Jim Cramer — of the CNBC Cramers — being interviewed in what appears to be my uncle's basement. And, for some reason, admitting to manipulating the market for the benefit of the hedge fund he used to run…
He suggests all hedge fund managers do the same. "No one else in the world would ever admit that, but I could care. I am not going to say it on TV," he quips in the video. He also calls Wall Street Journal reporters "bozos" and says behaving illegally is okay because the SEC doesn't understand it anyway…
On falsely creating the impression a stock is down (what he calls "fomenting"): "You can't foment. That's a violation… But you do it anyway because the SEC doesn't understand it." He adds, "When you have six days and your company may be in doubt because you are down, I think it is really important to foment."
I'm not an expert on economics, but I am an expert on being stupid. And I'm pretty sure that was a stupid thing to admit.
Hopefully, he can explain his views on the market better when he's Jon Stewart's guest tomorrow night.
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A great summary of Jim Cramer's malicious historical career:
http://www.deepcapture.com/jim-cramer-is-a-complicated-man/
Visit the website of http://www.deepcapture.com for more info on financial journalists on CNBC, and elsewhere who manipulate the financial markets, and who they are manipulating it for. Many financial news outlets, newspapers, and SEC investigators are what is referred to as "captured." They are captured by the industry (Wallstreet) they should be reporting on, not reporting for.
Cramer gets funded by hedge funds to report rumors on his show on CNBC. He still has close ties to several of these hedge funds, and used run a hedge fund of his own. He uses his platform at CNBC and his celebrity to make money for his hedge fund buddies who, pay him back through various perks.
"Sure it was a scam, but it was a legal scam" has been the refrain from the CEO of AiG on down to little punks like Crammer. Guess what Jimmy, it's judgment day you low life.
Cramer was trying to give the impression that he himself is a comedian on a variety show. Yeah, that will lessen the blow that he's been giving illegal advice for god knows how long. Not sure why Jon would help him cover his ass.
ohh… OK, I get it, it's alright to just brush off Jon because he's a comedian, so long as you're a criminal that's manipulating the stock market for your own gains. That sounds implicitly legal, well except for the part the admits is illegal. Perhaps the SEC understands English. Seems fair that my retirement fund is suffering while these douche bag hedge fund idiots are living it up!
Cramer cofounded TheStreet and is the largest shareholder.
Jim Cramer’s investing philosophy, “Who cares about the fundamentals?” Remember that.