Jim Cramer, host of CNBC's Mad Money and the inspiration for scores of investors betting too much of their nesteggs on individual stocks, might have some explaining to do to the Securities and Exchange Commission:
In the video from TheStreet.com's "Wall Street Confidential" Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.
'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.'"
Cramer Talks Too Much
Jim Cramer, host of CNBC's Mad Money and the inspiration for scores of investors betting too much of their nesteggs on individual stocks, might have some explaining to do to the Securities and Exchange Commission:
In the video from TheStreet.com's "Wall Street Confidential" Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.
'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.'"
Yeah you can't do that.
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