Did Jim Cramer really go mad?
It’s no intercontinental jet ride, but it could be even more damning to Jim Cramer. CNBC’s Mad Money man bragged during an interview with The Street.com [above] about manipulating stock prices during his days as a trader.
It’s even crazier when you read the transcript:
“A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. … It’s a fun game,” Cramer said in the Webcast, which was moderated by TheStreet.com Executive Editor Aaron Task. Cramer later said that “no one else in the world would ever admit that, but I don’t care.” He added that the strategy while illegal was safe enough because, “the Securities and Exchange Commission never understands this.”
FBNY Coverage Of CNBC’s ‘Money Honey’ Scandal: