Hey guys...I didnt post this as an April fools post, but as a post of reality. Jim Cramer is hammering people and money is being lost with bad trading decisions. He should be taken off the air by CNBC. Cramer needs to be held accountable, but no one is holding him accountable. He skates by and only through the web, blogs and services like youtube is he exposed. Lets keep this thread at the top to demonstrate and protest Jim Cramer and to send a message. If you really believe Jim should be taken off the air, then place your reply in this message and keep this thread at the top. Thanks once again for reading... <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/cLlzqe0UAMo&hl=en"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/cLlzqe0UAMo&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
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Why does he need to be held accountable? It is YOUR choice to follow any recommendation. He doesn't have control over your account.
FCC is supposed to look out for the public good. Lowest common denominator stuff. Not everybody has your sophistication. It really is a classless show for a network that claims to be so sophisticated. To see that asshole prance around in getups reminisent of some Tranny at Carnival in Brazil is pretty disgusting. I think it's why Rukeyser dies. He saw "Mad Money" and wanted to.
This is a great question and here are my reasons for why he should be held accountable. Jim Cramer bills himself as a sophisticated former money manager with a proven track record and extensive financial knowledge. He works for NBC on a financial news network where it is generally assumed among layman that the news is to be reported fair and accurately. There are many persons out there that are simply not knowledgable of the financial system or how Wall Street really operates. They turn to these "experts" on the financial news networks because that is the only resource they have available to themselves. Its true that we all have the option to turn on or off Jim Cramer. We dont have to listen to him. However, Jim misrepresents himself and some of his actions are definately suspect. Simply put, if I established a backroom call center and solicited retirees to invest into faulty stocks, would you say that is illegal? Definately and such operations have been shut-down by the SEC. What is the difference between a backroom boiler operation and Jim Cramer? Jim is obviously trying to get people into certain stocks and someone is making a profit. There is sometimes mysterious unexplained volume right before the show. Yes, everyone has a choice to listen or not to listen, but its also not right if someone is misrepresenting themselves for financial gain to persons who may not be knowledgable. I would call that fraud.
Jim is in the TV ratings business nothing more. His job is to sell add time. CNBC runs all the proper disclaimers and heâs not selling anything. The backroom operator who is selling something and is unlicensed is in violation of the law. A commentator on a network who gives his opinions is not. If he was front running his picks or shorting into his opinions it would be very easy to discover, same goes with anyone associated with him or NBC. I personally donât care for his show, but to be honest I have never watched more then a few moments. There is no questioning he gets high ratings and sells a lot of add time.
His WORST call was LVLT, for the fact that no joke, last year and 2006 literally every other day, some how LVLT would ge mentioned in his lightening round. Now of course doesn't know the callers lol! Something he makes sure you know before the lightening round. So after saying back up the truck 10x's and that it would double when it was like $5. He made it his 2007 speculative stock of the year. It went from $5.50-$6 to $2. LOL. And I say worse because of the non stop pumping. You have to wonder if someone was paying him, because not to long after that the company sold tons of CD's into the market. And yeah I know that was speculative. His 2007 GROWTH pick NYX went down nearly 40% since his call @ $100.