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Cramer and Tele-Hubris

Written By mista sense on Tuesday, March 20, 2007 | 8:15 AM

The Cable Gamer doesn't pretend to be a lawyer or fiscal savant. However, it does appear to this untrained eye that CNBC's Jim Cramer confessed to a crime last night on a streaming video show that's now, of course, on You Tube.

As reported by The New York Post's Roddy Boyd, Cramer bragged about manipulating prices. "No one else in the world would ever admit that, but I don't care." Well, yes, because perhaps no one else in the world is as egomaniacal and hungry for publicity as Cramer.

But should Cramer worry about a sharp practice that is a violation of the law? He doesn't seem to think that he needs to worry, because, he says, "The Securities and Exchange Commission never understands this."

Sounds like a case of tele-hubris to me.

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