Jim Cramer's confession could end his career
Henry Blodget at Slate explains what Jim Cramer was actually confessing to in those clips from The Street.com that Jon Stewart showed played on the Daily Show.
Blodget suggests that many of the trading strategies that Cramer confesses to having engaged in as a hedge fund manager, and recommends to his viewers, may constitute illegal market manipulation.
One particularly ironic detail. In the video, Cramer advocates spreading lies to reporters to move the price of a stock, including a specific CNBC reporter. Remember, Cramer wanted to go on the Daily Show to defend CNBC from Jon Stewart's previous ribbing.
via Naked Capitalism.