Thursday, March 12, 2009

Buzzflash: CNBC's Cramer represents corruption at the heart of Wall Street meltdown

by Chad Rubel

When Jon Stewart went after CNBC following Rick Santelli's rant, multiple members of the on-air staff took some hard hits. Stewart even wondered whether he would rather see the CNBC interviewer go to jail over Sir Allen Stanford.

Jim Cramer, perhaps the best-known personality on the business channel, came across relatively well in Stewart's initial attack. But Cramer made the attack on CNBC about Cramer.

This might end up being a rather huge mistake on Cramer's part. The Internet journalism community is helping Stewart's fight, and uncovered this 2006 video of Cramer admitting several things that don't seem, well, ethical. And you have Cramer saying to the interviewer that he wouldn't say this on TV. But we can see the video of Cramer admitting to certain business practices that sound, well, bad.

Click here to visit BUZZFLASH for the entire column

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