Now this is going to be Must See TeeVee!!
The ongoing feud between CNBC host Jim Cramer and Comedy Central's Jon Stewart will culminate with a personal face-off. After fielding jabs from Stewart about the calls he's made about Wall Street, the "Mad Money" host has agreed to make an appearance Thursday on "The Daily Show," according to Comedy Central. Before then, though, Stewart plans to take another swipe at Cramer and CNBC's coverage of the financial crisis on tonight's program.
Ooo! Ooo! Jon Stewart! Lookee what HuffPost dug up:
Oopsie daisy! Someone just got even more ammo to use against Wrongy McScreamington Thursday night, didn't someone?
But come on, let's give Cramer a break. Shorting stocks can be fun... as we can see in his 2006 interview with TheStreet.com's Aaron Task:
Okay, Jon Stewart, take it away!In it, the host of Mad Money says he regularly manipulated the market when he ran his hedge fund. He calls it "a fun game, and it's a lucrative game." He suggests all hedge fund managers do the same. "No one else in the world would ever admit that, but I could care. I am not going to say it on TV," he quips in the video.
He also calls Wall Street Journal reporters "bozos" and says behaving illegally is okay because the SEC doesn't understand it anyway. [...]
-On manipulating the market: "A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,"
-On falsely creating the impression a stock is down (what he calls "fomenting"): "You can't foment. That's a violation... But you do it anyway because the SEC doesn't understand it." He adds, "When you have six days and your company may be in doubt because you are down, I think it is really important to foment."
-On the truth: "What's important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view - it is important to create a new truth to develop a fiction," Cramer advises. "You can't take any chances."
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