Wed Mar 21st, 2007 at 02:30:24 PM EST
CounterPunch has a piece today about a ten-minute interview with Jim Cramer, the former hedge fund trader and now host of the CNBC program "Mad Money". Since he isn't speaking on his own show, Cramer is pretty blunt that financial markets are just a casino, in which the successful players know how to manipulate share prices when they are at risk of making heavy losses. Sure it's illegal, but that doesn't matter: the Securities and Exchange Commission (SEC) "don't have a clue".
The video is here. It makes for interesting viewing. For those who don't want to watch it or can't, the CounterPunch article covers the gist of it. The New York Post also has a short story about it today. So the interview, from last December, is beginning to get some buzz since it was posted on YouTube last week.