The entire mainstream media has been absorbed with the Jim Cramer/Jon Stewart conflict and last night it came to head with Cramer’s appearance on The Daily Show. The fight started when Jon Stewart did a segment on his show about how irresponsible reporting by the mainstream media led to people losing a lot of their money. Jim Cramer spent the entire time trying to either appologize or absolve himself of problems with the way he and others have been reporting on the economy. Stewart spent the time making actual arguments and backing them up with videos that obviously cornered an already flustered Cramer. I don’t know much about the market but Jon Stewart showed a clip where Cramer admitted to creating activity in the market to enhance his ability to make money. He says its legal and then tells hedge fund managers to do the same. Start watching this clip at 1:30.
Is this really legal or did Cramer inadvertantly admit to breaking the law? Please discuss below. Talks amongts yaselves. I’m feeling vaklempt.