Lost all respect for Jim Cramer

March 13, 2009

From a recent email to a friend:

Yes, Jon Stewart is raking CNBC over the coals for this irresponsible reporting. Basically guys like Jim Cramer saying on tv, “Bank #1 is ok, put your money there”, and then Bank #1 goes bankrupt. Then they did the same thing with Bank #2, etc.

Very, very, irresponsible “reporting”, where these guys are just puppets for the CEOs. They aren’t really “journalists” at all … I can’t think of a good word for them, but whatever means “regurgitate whatever a CEO tells me”, that’s all they did, no investigation, no fact-checking. And of course the CEOs were lying their asses off too.

Stewart also showed several clips of Cramer talking about how to manipulate Apple’s stock by reporting fake tips. At what point do these people go to prison?

I’ve lost a ton of respect for Cramer during this whole debacle, haven’t watched him in a very long time now, and will never watch him again.

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