Jim Cramer Suddenly Somewhat Uneasy About Confessing To Activities That 'Might Have Been Illegal' On A Popular Webcast

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Say, remember the other day when Mad Money host Jim Cramer thought it might be fun to brag about manipulating stock prices on the trading floor and encourage viewers to do the same? Well, suddenly, it's starting to look as though that wasn't the best idea!

Especially that part where Cramer says, "a lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It's a fun game."

Hey, you know who doesn't think it sounds like a fun game? The Post's Roddy Boyd, who criticized Cramer for the random unsolicited admission, and pronounced it a classic example of "Too Much Information" (otherwise known as "TMI.")

Which might explain Cramer's sudden contrition and horribly awkward denial, in an interview with MSNBC's Don Imus earlier today, where he's asked to clarify whether or not he engaged in illegal activity.

“I was saying – I have to show you the scams that other people do,” Cramer told Imus. “I have to show you how Wall Street really works. I didn’t say it right. I have to get better at saying it. I did not do the stuff. But I didn’t say it right.”

“I ran a clean shop,” Cramer said. “I tried not to be a bad guy. . .It’s about trying to show people the way things really work on Wall Street. I’m no master of the universe. But I did my best to run a clean shop.”

Well, Cramer's right about one thing. He's no master of the universe. But it turns out he's pretty good at making things happen! After all, not only did he amass a small fortune manipulating prices in the stock market, but now, thanks to him, Maria "Money Honey" Bartiromo is suddenly looking pretty damn ethical by comparison.

[via TVNewser]

Mar 22, 2007 · posted by · Link · Respond
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  • Comments (0)

    No. 1 Duke says:

    I think one could be described as unethical….the other is more immorally illicit. Look that up in you Funk and Wagnalls.

    Posted: Mar 23, 2007 at 12:08 pm
    No. 2 imagineoneday says:

    The video that sparked this controversy is again available on YouTube:

    http://youtube.com/watch?v=ZTt7IQB9rc0

    Posted: Mar 29, 2007 at 10:25 pm
    No. 3 Jack says:

    Does anyone really read this stuff. I would conclude for the measly number of comments re: articles that no one is reading this stuff. Can you estimate a following?

    Posted: Mar 31, 2007 at 9:23 am
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