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August 23, 2014

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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GL

for entertainment purposes only

October 22 2008 at 3:54 PM Report abuse rate up rate down Reply
Joe stalin

Well played.

October 22 2008 at 12:57 PM Report abuse rate up rate down Reply
rick cokely

Well he did give the Bluth Company a "Don't buy" so he can't be all that bad.

October 22 2008 at 12:41 PM Report abuse rate up rate down Reply
1 reply to rick cokely's comment
Joel

You just put a smile on my face with that one. Kudos.

October 22 2008 at 7:52 PM Report abuse rate up rate down Reply
Eugene

Oh god, if people invested money in the stock market as it was meant to be used... as a LONG TERM investment, we wouldn't be in this mess. But no, people need to make their quick buck and now corporate structures have changed to pander to emotional reactionary day traders who hold quarterly earnings reports above everything else, including the overall health of the market or the companies that they 'invest in'.

You guys were all part of the money making scheme and you all finally got what was coming to you. Shut up and grow a pair.

October 22 2008 at 12:21 PM Report abuse rate up rate down Reply
The Peruvian Goverment

..if anybody owes an apology, its Jim Cramer, who put me and thousands of other investors into stocks that dropped off the chart just days--hours--after his recommendation, and those stocks are down by as much as 70%...and until i get my money back, i hold Jim Cramer responsible for being a shill for the carnival.

October 22 2008 at 12:13 PM Report abuse rate up rate down Reply
1 reply to The Peruvian Goverment's comment
Joe stalin

He may be a loudmouth, but dear a$$hat, YOU are responsible for your own stupidity. And I realize that stupidity as massive as yours is a great burden to bear but it is your own. I could go on and on about the mentality of being an adult and taking responsibiltiy for your own actions but I don't think you'd follow. Needless to say are there many readers laughing at your financial ineptitude, maybe some, but most are laughing at because you can't possibly be a semi-functional adult and actually believe what you just wrote.
Could grateful dude be a 5 year old internet whizzzzz?
you-betcha!

October 22 2008 at 12:55 PM Report abuse rate up rate down Reply
Frank

"even though he actually predicted this Wall Street mess over a year ago"

I'm sorry, I hate when people say this.
Cramer predicts ALOT of things. That's what he does.
The fact that one was right is no indication of anything special about him. He was wrong on just as many (and I'll bet there was one point at which he predicted something different)

October 22 2008 at 12:08 PM Report abuse rate up rate down Reply

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