Remarks From Remarksman

March 12, 2009

Jim Cramer – Liar

Filed under: Uncategorized — BrianB @ 5:51 pm
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Jon Stewart on The Daily Show had an interview scheduled with CNBC’s Rick Santelli last week. Santelli cancelled, so The Daily Show spent several minutes destroying CNBC’s claimed reputation as ‘Your Source for Business News.’ The segment expertly skewers CNBC, you can watch it here. Several of the many CNBC clips showing inaccurate predictions included Jim Cramer, host of CNBC’s “Mad Money” show. Jim Cramer seems to have made the foolish decision to attack Jon Stewart in retaliation. How smart is it to attack someone who’s specialty is making fun of people?

Cramer wrote a long article at MainStreet.com to “defend himself” from numerous ‘misguided attacks.’ He also toured several shows on NBC networks to ‘clear things up.’ The Daily Show had a great response in which more of Cramer’s lies are exposed. You can watch it here.

But that’s not the worst of Cramer’s lying. The Huffington Post points out an interview of Cramer on TheStreet.com available on YouTube. In the interview, Cramer describes things he did to manipulate the market when he ran his hedge fund. Here are some quotes pulled from the interview and featured in the HuffPo article:

He calls [manipulating stock prices] “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.

Here are some gems:

  • 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.”

This is the culture of the “Wall Street” people and businesses we are bailing out.

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September 6, 2008

More About Sarah Palin

Filed under: Uncategorized — BrianB @ 5:15 pm
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Lots of people are searching for more information about McCain’s pick for Vice Presidential candidate, Sarah Palin. Here are a few interesting links:

  • An open letter from Anne Kilkenny, a Wasilla, Alaska resident.
  • “So Sambo beat the bitch!” This is how a waitress reports that Sarah Palin greeted the news that Obama had received enough votes to win the Democratic Primary.
  • Some fact checking of Palin’s speech at the RNC, and excerpts from other RNC speeches
  • Palin’s speech included the line, “I guess a small-town mayor is sort of like a community organizer—except that you have actual responsibilities.” This was a dig at Obama’s community work with the Catholic Campaign for Human Development. The RNC crowd seemed to think it was funny, but Palin apparently doesn’t realize that women’s suffrage came about as a result of ‘community organizers.’ Martin Luther King was a ‘community organizer.’

To wrap up with a little humor, I haven’t watched the Late Show in a long time, but Jay Leno has apparently been offering up a few gems lately:

  • “Governor Sarah Palin gave her speech tonight at the GOP Convention, and it gave people who didn’t know anything about her the chance to finally meet her, you know, like John McCain.”
  • “I gotta admit, she looked very comfortable at the podium ’cause it’s kinda like Alaska: you look out on that convention floor, nothing but white as far as the eye can see.”
  • “I don’t know if you noticed this, but at the GOP convention, the cameramen are desperately trying to find minorities in the audience they could zoom in on, ’cause this is what they do. Finally, after an hour, they found one. It was a Presbyterian standing in a group of Methodists.”

June 30, 2008

Lots of Links

Filed under: Uncategorized — BrianB @ 3:48 pm
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I’ve been busy, but have a lot of interesting reading to link to.

First some good news from MojoBlog, we finally have a Federal Elections Commission. On June 24, the Senate confirmed five commissioners to join the single sitting commissioner. Yes, we’ve gone through over a year of election activities with effectively no FEC to regulate it.

Wired has a story about a photographer who is making a statement about the secrety spy satellites that orbit overhead.

“Marriage Protection Amendment” Hypocrisy

Another short piece from MojoBlog. It would be hilarious if it wasn’t so sad.

The Real Story

There is a bit more to the “judge who has porn on his web page” story than has been widely reported – BoingBoing

Former Senator Phil Gramm, one of Senator McCain’s campaign advisors, helped clear the way for the “sub-prime meltdown” – Mother Jones.

Most of the main-stream media coverage of President Bush’s and Senator McCain’s calls for increased off-shore oil drilling based on high gasoline prices just say “critics claim that gas prices won’t go down for years.” It’s pretty clear that off-shore drilling is not a quick fix. There are other problems, too. – MojoBlog

After closing the salmon-fishing season off the west coast, senators added disaster funding for the fishermen. The Bush administration is trying to cut the funds, though.

Government by the Corporations, for the Corporations

DOD Contracts Out Contractor Oversight at Truthout

Telecom Donations Tied to FISA Vote also at Truthout

Did Bank of America Write the Housing Bailout Bill? at The Big Picture

Mandatory arbitration clauses have become commonplace when consumers deal with large corporations. BusinessWeek has a long article detailing how consumers usually lose in arbitration, while MojoBlog has an interesting story about arbitration in nursing homes.

Liars

Lying and forgetting continue to be popular…

Scalia Cites False Information in Habeas Corpus Dissent at Truthout

Torture from the Top Down at Harper’s Magazine

Good Stuff

A small village decides to grow its own food.

Consumers Use Shopping Spree To Get Store To Make Energy Efficient Choices

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