Jim Cramer (Mad Money Ghuru) admits to manipulating stock markets

The Huffington Post has dug up this little gem:

After complaining about Jon Stewarts’ skewering him on a comedy show, Cramer has proven to be a bigger dirtbag than previously assumed.  Cramer brags about manipulating the market:

(Cramer) calls it “a fun game, and it’s a lucrative game.” 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.

Why isn’t this guy  in jail?!

The Huffington Post frames Cramer’s views nicely:

  • -On manipulating the market: “A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,”
  • -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.”
  • -On the truth: “What’s important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view – it is important to create a new truth to develop a fiction,” Cramer advises. “You can’t take any chances.”

This guy needs to be locked up.

fruitfly21On March 9th, Cramer sent a memo to Bill Mahr where he complains:

“Stop insulting my faux great-great-uncle Vlad Lenin. I am using him to dramatize the point of a failed nationalization and confiscation of the banks at the hands of the people. It is funny how the right is certainly very civil as my old friends and new allies as of last week, Fred Barnes and Sean Hannity, don’t hold my left wing social view against me when they talk about my criticism of the president! I always love anyone from Fox on the team because they are fierce in their defense with much less gratuitous slamming.”

Ben Folds: You don't know me
What a disgusting Republican turd.  He’s convinced greedy people to spend friviolously on the stock market, lost them mllions of dollars and now he’s clinging to Right Wing douchebags and complaining that people on the “Left” don’t like it.  …That those “Lefties” have no right to criticize him on anything.

Throw this douche in the slammer!

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