Jim Cramer - Market Manipulation?

[Lucky]

http://www.youtube.com/watch?v=708wDFX28lc

Interesting YouTube video of Jim Cramer discussing the "workings" of the market by an insider. It's worth a listen as it gives you a pretty good idea on how the insiders work/think. What's interesting is that this guy is a major talking head on cnbc and all those financial talk shows in the US. Quite bizzare, but none the less very interesting. Enjoy.

 

[happytown]

and its now getting some mainstream media attention,

from today's usa today

"CNBC's Cramer boasts of manipulating markets

By Matt Krantz, USA TODAY

CNBC TV host Jim Cramer has made a name for himself telling viewers how to make money in the stock market. Here's one time he might wish he'd kept quiet.

In a video originally broadcast on trading website TheStreet.com on Dec 22, 2006, that resurfaced this week on YouTube, Cramer discusses at length ways he and other hedge fund managers have been able to manipulate security prices for quick gains.

"A lot of times when I was short (stocks) at my hedge fund … meaning I needed it (the stock) down …I would create a level of activity beforehand that would drive the futures," the Mad Money host said in a broadcast that was removed from YouTube Thursday but was available on TheStreet.com as of Thursday night. "It's a fun game, and it's a lucrative game."

Shorting stocks ”” selling borrowed shares in hopes of buying them back later at a lower price, thus making a profit ”” is a common trading tool used by hedge funds.

..."

http://www.usatoday.com/money/markets/2007-03-23-cramer-usat_N.htm

and from the earlier report from corporate crime reporter (with a longer transcript),

http://www.corporatecrimereporter.com/cramercomesclean032107.htm

cheers