Back in 1990 the media company MCA was bought out by the Japanese. I was working as a broker in a boiler room back then and while I was talking with someone on the phone he asked me what was going on with MCA. I said, "The Nips are buying it!" He got all offended and hung up on me.
Japanese has two words for the country of Japan: "Nihon" and "Nippon." They are somewhat interchangeable but "Nippon" has a more "national" feel to it and tends to be used with things like shipping companies, during times of war, etc. The derogatory term "nip" comes from "Nippon" and was probably picked up during WWII from hearing "Nippon" this and "Nippon" that. Edit - it's also a kind of cheese cracker, similar to Cheez-Its.
Can someone please report this to the appropriate organization that will raise living hell with all media outlets? I don't know the right one to contact. I really want Cramer off the air - thanks in advance.