Cramer's Career Possibly Over?

J

jbenko_IHB

New member
That's the word because of his statement from Stewart's tape: "When I was short at my hedge fund, and I needed it down, I would create a level of activity beforehand that would CONTRIBE the futures." AND "I used to spread rumors about Apple....."



<a href="http://www.youtube.com/watch?v=49-hIC0rb7M">At 6:18 in the video Cramer admits to manipulate the market, which is illegal. </a>



I bet he gets investigated and at best his career is over.

I'M CALLING THE TOP OF CRAMERS CAREER. No, not the bottom...this is the top, everything else from here on out will be a bottom for him as he creates new lows.



See ya Cramer, Jon Stewart played you. You got exposed on national television and that was his goal. Just let me know when the Season Finale of Mad Money will be.
 
I think I'd have to agree with you. After watching last night I said to my husband, "I think some heads are going to roll over at CNBC." The contrite, apologetic thing can only get you so far. I also predict that there will be more than a few people taking another look at the Jon Stewart show. For an entirely different take then we seem to agree on, read the NY times article this morning which ends with "Cramer may have the last laugh". I couldn't really agree with that article.
 
What he did is very illegal, and goes on all the time. Price manipulation. But nobody is that stupid to admit it on TV. Thats like saying, yeah I made 1M last year and I found a way not to pay taxes on it so I didn't.



Madoff = Cramer
 
He has said that before on his show. Nothing happened. He took some flack, but that was about it. CNBC probably sat him down, gave him a cookie, and said don't do that again. Unfortunately... I doubt anything will happen.
 
[quote author="graphrix" date=1236994414]He has said that before on his show. Nothing happened. He took some flack, but that was about it. CNBC probably sat him down, gave him a cookie, and said don't do that again. Unfortunately... I doubt anything will happen.</blockquote>


Yes, he gave an interview on theStreet.com, said the exact same thing, got subpoenaed by the SEC, ripped up his subpoena on the air, and continued to broadcast his show. If no enforcement resulted from this, I don't expect anything to happen either.
 
I don't think he's going to jail or anything, I just think his career could possibly be on a slow boat to nowhere until he eventually gets dumped by CNBC. Of course, I could be wrong but it's just the instinct that I have on this one.
 
I'm not too interested in the crazy/true things he said in some obscure, not meant to be televised interview (although it was damning). The interesting part of this whole episode is that Cramer came off as either a liar or someone who is easily lied to and manipulated. Either way, that doesn't go far when you are purporting to be a person people should listen to and trust with their financial decisions. I also found it funny that he went on all sorts of other shows throughout the week claiming not to care because someone on a "variety" show was making fun of him. Suddenly last night Cramer's own show was called "an entertainment show" by him, so does that mean he wants people to take him seriously or not?
 
Cramer will keep chugging along. He still gets the ratings for CNBC and that's all that matters.



Now if he were to still be running his hedge fund..then sure, he's a goner.
 
[quote author="graphrix" date=1236994414]He has said that before on his show. Nothing happened. He took some flack, but that was about it. CNBC probably sat him down, gave him a cookie, and said don't do that again. Unfortunately... I doubt anything will happen.</blockquote>


Yes, he has said this before, not necessarily on broadcast TV, but it was widely viewed on YouTube.



And "short sellers" do all kind of tricks, some of them: hire a 3rd party company to collect the trash of a company HQs and get some smelly inside information, send people to work for a company that they want to short sell, etc.



John Paulson's hedge fund was monitoring residential real estate mortgages performance since 2005, question: how did he get the data? huh?!? I think he used some questionable ways to do it, and he succesfully positioned himself for the stock market crash doing complex trades: buying dirt cheap CDS, buying puts, shorting some stocks like City Bank, stocks that would go down but don't disappear, these are the people that know what they are doing.







Here's the last time that he said the same, I think this was in 2007.



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
This is old news. The SEC isn't going to do anything.



I have no doubt that Jim did this when he ran a hedge fund, and I have no doubt he is lying about not doing it now. What everyone seems to be missing is the point he indirectly makes - people are indeed manipulating markets to the detriment of the unwashed.



The SEC has become increasingly asleep at the switch since 1980. Thankfully that trend appears to be reversed, although we have nothing to show for it except a 10% increase in their budget for next year. It's a refreshing change.
 
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