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May 6, 2015

CNBC's Cramer speaks out, then apologizes

by Bob Sassone, posted Oct 22nd 2008 11:00AM
Jim CramerCNBC analyst and Mad Money host Jim Cramer has been in a few controversies lately, from comments he made about what we should do with our stocks to picks that he has made. Now Cramer has said this:

"We should hound them in the supermarket, we should hound them in the ball park, we should hound them everywhere they are. We should make fun of them and we should point fingers at them and we should tell them that you have no shame."

I know, you probably think that Cramer is talking about reality show contestants, but he's not.

Cramer was actually talking about AIG executives. But AIG took offense to the comments, saying that was the old management and certainly didn't apply to the many other employees of the company. They sent a letter to Cramer, but he was all set to apologize anyway. He apologized, saying that he was talking about the old board, the people who used to be in charge, and saying that "99.9% of people who work at AIG...are fabulous."

Cramer has been getting a lot of backlash lately, even though he actually predicted this Wall Street mess over a year ago. But I think everyone has to show a little common sense when it comes to listening to someone on TV when it comes to financial advice. It's rather funny that we have two cable channels devoted to nothing but the stock market and money. The stock market has become part of daily pop culture on television, and I'm not sure that's completely a good thing.

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