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CNBC Guest Tells Truth, Calls Cramer Shallow, Is Yanked Off Air
Any time Erin Burnett tells a guest "You will not be back, you have to be more polite than that" you know the "guest" is telling the truth, the one commodity rarely if ever discussed on General Electric's circus station. Enter (or rather, exit) R&R Consulting's Sylvain Raynes, a structured finance expert, who at 3:10 into the clip takes on what he calls the "public relations officers" for Goldman, and asks "is it all right if I am a little critical?" Apparently the answer is no. First, Sylvain completely destroys Cramer's false "breaking news" about Goldman being long Abacus, using the same logic we discussed earlier: "It's quite possible that Goldman had an equity position, they probably wrote it off on the closing date. So they stood to lose a few million and make a few hundred million... Goldman was clearly in the know, they knew what they were doing. In fact, if they are defending themselves against a fraud charge they will have to make a case that they didn't know. I think too highly of Goldman Sachs to think that they didn't know what they were doing... These deals were made to be shorted." And the kicker "We don't have time to go into details, I want to remain shallow in deference to Mr. Cramer." At which point all hell breaks loose and the Goldman alumni just blow their collective lids. Best CNBC comedy since the Pisani-Liesman/Jeff Macke chronicles.
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The television segement was shameful. Cramer attempts to defend the indefensible while Burnett referees a specious debate. Cramer is acting (unwittingly or out of sympathy for his pals) as a PR mouthpiece for Goldman. Can he really be THAT stupid and unaware of the basic legal requirement that an issuer of any security must disclose ALL material information to a prospective buyer?
The television segement was shameful. Cramer attempts to defend the indefensible while Burnett referees a specious debate. Cramer is acting (unwittingly or out of sympathy for his pals) as a PR mouthpiece for Goldman. Can he really be THAT stupid and unaware of the basic legal requirement that an issuer of any security must disclose ALL material information to a prospective buyer?
To invoke "caveat emptor" as a defense of Goldman is to ignore well established and widely known basic legal requirements and rules of the game.
The television segement was shameful. Cramer attempts to defend the indefensible while Burnett referees a specious debate. Cramer is acting (unwittingly or out of sympathy for his pals) as a PR mouthpiece for Goldman. Can he really be THAT stupid and unaware of the basic legal requirement that an issuer of any security must disclose ALL material information to a prospective buyer?
To invoke "caveat emptor" as a defense of Goldman is to ignore well established and widely known basic legal requirements and rules of the game.
Erin Burnett needs some big fake boobies !!!!!!!!!!!!!!!!!!
I would pay $10k to bitch slap Erin Burnett. She is a despicable bitch and professional liar.
Cramer jus got told he got a small weenie on National TV....
Erin circled the wagons cuz she still needs to work...
But Erin now has a "thing" for Sylvain
Just needs to confirm his bank first.....
You know, hedging her downside....(or is that
backside....)
that was canonical.....the ignorant piece of crap was finally called out for his eternal crap...and yet the minions of gs will cackle on undeterred....
Hey, hey, hey, play nice with little Jimmy or you won't be allowed to visit again.
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Mr. high-flying Jim Cramer was a half step ahead of a federal indictment in the dotcom fiasco. Now he acts pious and plays the victim card when someone dares to suggest he might have more interest than he lets on -- what a total douche. To be fair, Mr. Raines was acting like a total whack-job as well, so I guess it was balanced insanity.
Darn, damn funny. Laughter is indeed the medicine needed for these troubles times.
Cramer got owned today, and he fukkin' knew it ......Give Mr. Raines an Emmy Award, and a Presidential Medal of Freedom while we're at it.
I'd join with everyone else with my adjectives for Jim Cramer, but it would be an insult to lying, cheating, shit-guzzling, sleazoids everywhere.
CNBC -----> CNGE -----> CNBS -----> CNGS
Saw it in real time, when I took off the "mute"--the only way to watch CNBC.
CNBC: "AN INFORMERCIAL FOR WALL STREET"
If you can't say fuck Goldman Sachs every once in a while, you may as well live in North Korea, lol.
Also, being bullish of gold, it's not clear to me in the unlikely event Paulson has to dump a few billion in gold over the next year or two, that this is going to really effect the gold market as a whole. Also, silver was down even more, and platinum and oil had a sour day as well. Really, it was about "risk off."
Given that the stock market is as overbought as I have seen in the 15 years I've been following the flickering ticks, I took the occasion to to go short.
Actually, he didn't call Cramer shallow. He was trying to keep his explanation short and simple so Cramer could have time to respond. Erin made a complete fool of herself jumping all over the guy, completely misunderstanding his remark
Yes, I can see that explanation. But, also, we must realize that Burnett is also at the mercy of the never-seen producer, who is really calling the shots, she has those little pauses at the end of the clip while she is receiving her marching orders.
Why don't those behind-the-scenes producers ever tell all?
It always makes sense to pull the plug on the panelist most qualified to opine on the subject at hand.....
Note the rocking sideways while talking - is Reynes Asperger's?
In the same way JC is a narcissistic sociopath?
When BSC and LEH were failing Cramer ws on cable pontificating that "all is well!"
What an absolutely insecure, defensive bunch of rich kids. That is a level of impoliteness warranting numerous "warnings" from the host? A couple of barbs? Cramer's putting CEOs in the fucking "sell block"--can dish it out, but not take it.
CNBC is like a fucking treehouse but the sign says "no skeptics allowed" instead of "no girls". Quick, everyone rush to the financial rapist's defense.
I can't understand what Cramer said when Erin was blabbering....??? He said something like don't give me that ????????? what the heck was it?
This was just terrible. Shame on Erin, shame on Jim. Kind of ironic this evening then when they had their extended coverage that Erin makes a crack as they go to commercial that when there were all these police sirens it was as a result of cars trying to hit Blankfein...realizing her stupidity she quickly said she wass joking.
No Miss Burnett----YOU'RE the joke.
"Or the deformed, hunchback in the movie "300". I imagine this is what he feels like at GS reunion parties."
Epic visual. May Cramer live forever.
(and my battle wounds be bandaged by the beautiful and shipwrecked Greek Mrs. Economou)
I think Erin is cute and all u mofo's wanting to get violent with her I say make love not war. Still grinning :-)
'cute'? You, sir, are in need of a puppy. Erin is bangable, but only because that would derive some use from her.
If you are still "banging" girls then you are either single or a cuckold. Where you would give her a rash I would give her ecstasy, sir.
I just threw up in my mouth a little bit.
Why can Liesman and Santelli, Cramer and Santelli go at it, but heaven forbid an outsider going against one of the gang. Erin is a twit. If this network wanted ratings they would have more guests like Raynes on. Nice Bitch slap to CNBC.
Cramer is a slimy weasel that belongs in jail. Anyone that thinks otherwise is very naïve and clueless.
This is exactly why I don't watch CNBC anymore ever. The puppets they have on their show only report what they are told to report, never what needs to be reported, and never the truth being reported. Jim Cramer was busted by Jon Stewart hard during the crisis regarding his ignorant calls for buying stocks. CNBC is nothing but Pump and Dump TV and needs to be regulated itself. The SEC should file charges against them as well.
The SEC had better be bringing charges against JP Morgan Chase and Bank of America and their little Merrill Lynch bunch, because they are guilty as well of the same crimes and more.
Why has the FED not been audited yet? What else is being hidden to keep people putting money into this fake market so it won't collapse to nothing?
If you want to reel in these crooks and put a stop to this corruption, you have to close the doors at Goldman Sachs, JP Morgan, Bank of America, and CNBC. Obviously our Senate/Congress have no balls to do such. It is time to replace all incumbents during these next elections.
I'd just like to point out that the issue at hand is whether and to what extent Goldman should have disclosed all the details regarding the CDO to it's clients (that it was designed by short bias investor for the purpose of buying CDS against it etc.) not whether Goldman was long this or short that or under what scenarios they would have made/lost money.
None of the four talking heads actually addressed that issue so no value was added here one way or the other.
Sad----true debate---is truth.....Not we are offended by your honesty.....Fuck you CNBC
Thanks ZH for not linking to CNBS directly that way we don't support their website yet get to laugh at the jackasses. For those who need a financial fix I find Bloomberg radio in the AM to have the best interviews, though Tom Keene sometimes comes off ill prepared and pompous. (it must be the bow tie and horn rim glasses)
and that does it for me as well. now i will refuse to even watch
the cnbc tickers with the sound off.
imagine that cnbc would be accused of running pr for banks.
i thought this deal with paulson was the 'deal of the century' which doesnt
fit with cnbc's 'whats the big deal' defense ?
and while i'm at it with my first post - leisman's cnbc bio shows no justication for
his colleagues calling him 'the old professor' - he seems to have no economics
education and was never a professor
i wouldnt have thought 'big brother' would look like cnbc - round the clock financial brainwashing
This clip is yet another example of what Chomsky labelled "Manufacturing Consent" years ago. If you don't toe the line, and follow the parameters of the interview, you'll never be invited to speak on CNBS again. These people are fucking clowns. But everyone needs clowns to lighten up their day, which is why every major trading desk in te world has CNBS playing in the background all day long.
Tread carefully Mr Cramer, Mr Stewart might be watching :)
watch jim cramer be very impolite, and Erin find humor in it. what scum.
http://www.youtube.com/watch?v=sSS1EV-7QV8&feature=related
AT least she got people to see her show. Who watches this total crap?
More background on Sylvain Raynes and read previous his essays on quantnet.com
http://www.quantnet.com/sylvain-raynes-v-jim-cramer
This is exactly why I don't watch CNBC.
Erin Burnett is a big time idiot. She's journalist who needs a conviction before she acts like a journalist. So I guess that makes her a hack.
The funny thing is one day all these dips will see how wrong they were. She's got a HUGE awakening coming....like pretty much everyone else at CNBC. Santelli is going to have a great day one day walking around and see the dumbfounded looks on all his idiot co-workers. You mean the sky is BLUE? There is gravity? You know really simple stuff that they currently overlook.
Her show is street signs, it's obvious though she can't read the big red flashing one that reads the banks and the system are *BANKRUPT* and it wasn't all a 'mistake'.
I didn't know this until somebody posted but Erin Burnett is a member of the CFR (Council of Foreign Relations). Which means that she along with all the other members of the media who belong their with politicians and others push or protect certain ideas and people from being destroyed. With Jim Cramer coming out and saying that Paulson and company owned one or a few long positions in the Abacus fund, was propaganda spin with their 2 major alumns. First of all through that whole hour and more, Jim wasn't asked or Erin wasn't asked or made comment about how it's not considered wrong to COLLUDE WITH GOLDMAN SACHS TO PICK DEBT FOR A FUND THAT IS DESIGNED TO FAIL. Yea Paulson did have a few or one long position in Abacus, but as it was written back in December in the NYtimes, they had more that where short the fund. Or as the one individual said from the Paulson hedge fund was quoted saying "as long as we have the majority in short positions". Also ask yourself why do anchors or people who are interviewed tell or are outed by the interviewer or the person being interviewed about what their investment or position is on what they are talking about. It's because it would show if they are biased or protecting their position. But in this case both anchors see nothing wrong except fro Mark Heynes in the morning. Because he knows as do anybody with an IQ over mud that if your betting against a certain team or anything and you get to decide who is on the team or playing, you will game that team or fund in order for you to win pure and simple.
But Cramer and Erin are making it seem that well it doesn't matter because they had a few long positions, and this shows that they where "Playing fair". If you or me or even the anchors on CNBC where complicite in putting together something for investors that failed and come to find out that you shorted the same things that you put together, we would be in prison (I forgot what type of con this is but I remember this scheme and it's almost not done because it's so blatant). It goes against all logic that you would cut your own financial throat if you have anything to say about it.
I found out loud and clear that Friday CNBC and others are keeping certain people protected and ideas up front and the other things are edited out. Welcome to America, where fucked.
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