Henry Blodget of Slate.com considers what remains of Jim Cramer in the wake of his seeming confession to stock-price manipulation--and the big question, which is, What about his employer, CNBC? Does the biz channel have any burden to keep itself clean? Can Cramer really give investment advice to small investors after admitting--make that proclaiming-- how the likes of him go about ripping off those same small investors?
"So far, CNBC, Cramer's biggest platform, has remained quiet on the topic. (A spokesman has not returned my call). This is probably because 1) they are hoping the whole thing will just blow over, and/or 2) they don't know what to say. It is certainly possible that the whole thing will pass: Cramer has been very effective at stifling or weathering critics. It is also possible, however, that Jim Cramer has committed professional suicide."
The network that keeps Maria Bartiromo as a star might not be expected to clean up its act, but one would think that the government would have to step in and clean it up for them.
