Inspire Political Discourse: Host of MSNBC's Mad Money, Jim Cramer, Admits to Manipulating the Market, Other Illegal Activity

11 March 2009

Host of MSNBC's "Mad Money", Jim Cramer, Admits to Manipulating the Market, Other Illegal Activity

You may be aware of the ongoing kerfluffle between Cramer and Jon Stewart, If not, I plan to catch you up later.

Suffice it to say that I am thinking that Mr. Cramer is now wishing he had simply ignored Stewart rather than acting like a big d.ick about the whole thing. Joe Scarborough might be wishing the same thing.

The video is an interview Cramer did with TheStreet.com in 2006, and in it, Cramer admits to illegal activity as a hedge fund manager. The video is fascinating but I dug around and found more info. Links below the video. Enjoy.

From HUFFPOST:

In it, the host of Mad Money says he regularly manipulated the market when he ran his hedge fund. He 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.

Here are some gems:
-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,"