Changes

== Criticism ==

== Criticism ==

=== John Stewart ===

=== John Stewart ===

On March 12, 2009, Jim Cramer appeared on ''[[The Daily Show]]'' with [[Jon Stewart]].<ref>{{cite web |url=http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533 |title=Daily Show interview of Jim Cramer |accessdate=2009-03-14 |date=2009-03-12 |work=The Daily Show with Jon Stewart |publisher=comedycentral.com }}</ref> Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."<ref>{{cite news |title=CNBC's Jim Cramer Responds to Jon Stewart's Response to CNBC's Jim Cramer |  |url=http://blog.indecisionforever.com/2009/03/10/cnbcs-jim-cramer-responds-to-jon-stewarts-response-to-cnbcs-jim-cramer/ |publisher=Comedy Central |date= March 10, 2009|accessdate=March 10, 2009}}</ref> Moreover, he claimed CNBC shirked its journalistic duty by believing corporate lies, rather than being an investigative "powerful tool of illumination."<ref>{{cite web |url=http://apnews.myway.com/article/20090313/D96T3SJ83.html |title=Stewart hammers Cramer on `The Daily Show' |accessdate=2009-03-13 |date=2009-03-13 |publisher=My Way News }}</ref> For his part, Cramer disagreed with Stewart on a few points, but acknowledged that he could have done a better job foreseeing the economic collapse: "We all should have seen it more." <ref>{{cite web |url=http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview|title=March 12, 2009: Jim Cramer Unedited Interview Pt. 2 |accessdate=2009-03-12 |date=2009-03-12 |publisher=''Comedy Partners'' }}</ref>

On March 12, 2009, Jim Cramer appeared on ''[[The Daily Show]]'' with [[Jon Stewart]].<ref>{{cite web |url=http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533 |title=Daily Show interview of Jim Cramer |accessdate=2009-03-14 |date=2009-03-12 |work=The Daily Show with Jon Stewart |publisher=comedycentral.com }}</ref> Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."<ref>{{cite news |title=CNBC's Jim Cramer Responds to Jon Stewart's Response to CNBC's Jim Cramer |  |url=http://blog.indecisionforever.com/2009/03/10/cnbcs-jim-cramer-responds-to-jon-stewarts-response-to-cnbcs-jim-cramer/ |publisher=Comedy Central |date= March 10, 2009|accessdate=March 10, 2009}}</ref> Moreover, he claimed CNBC shirked its journalistic duty by believing corporate lies, rather than being an investigative "powerful tool of illumination."<ref>{{cite web |url=http://apnews.myway.com/article/20090313/D96T3SJ83.html |title=Stewart hammers Cramer on `The Daily Show' |accessdate=2009-03-13 |date=2009-03-13 |publisher=My Way News }}</ref> For his part, Cramer disagreed with Stewart on a few points, but acknowledged that he could have done a better job foreseeing the economic collapse: "We all should have seen it more."<ref>{{cite web |url=http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview|title=March 12, 2009: Jim Cramer Unedited Interview Pt. 2 |accessdate=2009-03-12 |date=2009-03-12 |publisher=''Comedy Partners'' }}</ref>

Stewart also discussed how short-selling was detrimental to the markets and investors. Cramer admitted to Stewart that short-selling was detrimental, stated his opposition to it, and claimed that he had never engaged in it.  He said, "I will say this: I am trying to expose this stuff, exactly what you guys do, and I've been trying to get the regulators to look at it."<ref>{{cite web |url=http://www.cnbc.com/id/27850397 |title=Out with Cox, in with Uptick Rule |accessdate=Friday, 21 Nov 2008 |date=Friday, 21 Nov 2008 |publisher=CNBC}}</ref>  

Stewart also discussed how short-selling was detrimental to the markets and investors. Cramer admitted to Stewart that short-selling was detrimental, stated his opposition to it, and claimed that he had never engaged in it.  He said, "I will say this: I am trying to expose this stuff, exactly what you guys do, and I've been trying to get the regulators to look at it."<ref>{{cite web |url=http://www.cnbc.com/id/27850397 |title=Out with Cox, in with Uptick Rule |accessdate=Friday, 21 Nov 2008 |date=Friday, 21 Nov 2008 |publisher=CNBC}}</ref>  

=== Wachovia ===

=== Wachovia ===

On September 15, 2008, Cramer invited the CEO of [[Wachovia]] on his show, Mad Money, in order to recommend the stock to potential investors.<ref>{{cite web|url=http://seekingalpha.com/article/97884-it-did-happen-cramer-s-mad-money-9-29-08|title=It Did Happen! - Cramer's Mad Money}}</ref> Cramer agreed with CEO [[Robert Steel]] that the company was fundamentally sound and that the ratio of good loans to bad loans was low. Cramer would recommend the stock to his viewers before [[Citi]] announced their intentions to acquire Wachovia's banking operations. On Monday, September 29, Wachovia's share prices dropped over 95% in the pre-market and over 80% in market hours following news of a possible Citi acquisition. <ref>{{cite web|url=http://finance.yahoo.com/q/hp?s=WB&a=08&b=1&c=2008&d=08&e=29&f=2008&g=d|title=WB Historical Prices}}</ref> Prior to this, Cramer had stated, "This is run by Bob Steel. He's as close as we're going to get to a great banker. I think he's going to make this a great company. "<ref>{{cite web|url=http://www.thestreet.com/funds/lightninground/10436026.html|title=Mad Money Lightning Round': Wait for Wachovia}}</ref> Eventually, [[Wells Fargo]] would purchase Wachovia for $15.1 billion in an all stock deal leaving Wachovia shareholders with 0.1991 shares of Wells Fargo for every share of Wachovia stock, resulting in a large decline in stockholder value.<ref>{{cite web|url=http://abcnews.go.com/Business/SmartHome/story?id=5946486&page=1|title=Wells Fargo Buys Wachovia for $15.1 Billion}}</ref> In 2008, Wachovia shares declined 88 percent.<ref>{{cite web|url=http://www.bloomberg.com/apps/news?pid=20601109&sid=aZ6bc_6wz50c&refer=news|title=Wells Fargo's Push East Slowed by Wachovia Defections}}</ref>

On September 29, 2008, during a segment of ''Mad Money'',<ref>{{cite news |title=Wall of Shame: Wachovia CEO Bob Steel |url=http://www.cnbc.com/id/26945323 |publisher=CNBC |date= Monday, 29 Sep 2008|accessdate=Monday, 29 Sep 2008}}</ref> on [[CNBC]] Jim Cramer discussed the [[Wachovia]] call he made on September 15, 2008.<ref>{{cite news |title=Wachovia CEO Offers Plan for Markets |url=http://www.cnbc.com/id/26720573/ |publisher=CNBC |date= 2008-15-09|accessdate=2008-15-09}}</ref> Cramer apologized both on ''Mad Money'' and on the ''[[Today Show]]'' for believing in Steel.<ref>{{cite news |title=Jim Cramer: "I Screwed Up. I Apologize"  |url=http://www.mediabistro.com/tvnewser/cnbc/jim_cramer_i_screwed_up_i_apologize__96078.asp |publisher=TVNEWSER |date= 2008-30-09|accessdate=2008-30-09}}</ref>

==== Frank Rich ====

==== Frank Rich ====

Referring to charges leveled against Jim Cramer by [[The New York Times]]' Frank Rich on March 8, 2009, Cramer said, "I called out [Paulson<ref>{{cite news |title=Cramer's 'Mad Money' Recap: Dec. 16 |url=http://www.thestreet.com/story/10453585/1/cramers-mad-money-recap-dec-16.html |publisher=TheStreet |author=Jim Cramer |date= 12/16/08|accessdate=12/16/08}}</ref> and Geithner<ref>{{cite news |title=Cramer: Where the Heck Is Tim Geithner? |url=http://www.cnbc.com/id/29304624 |publisher=CNBC |date= Friday, 20 Feb 2009|accessdate=Friday, 20 Feb 2009}}</ref>] for their mistakes, where was [[Frank Rich]] praising me on that? Where was that?"<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-10-03|accessdate=2009-10-03}}</ref>

On March 9, 2009, on ''Mad Money'',<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics  |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-09-03|accessdate=2009-09-03}}</ref> Jim Cramer said Frank Rich "chastised me for endorsing Wachovia's stock after then-CEO Bob Steel came onto Mad Money and spoke positively about the bank." After the bank collapsed, Cramer reminded viewers that he takes pride in "the part about accountability,"<ref>{{cite news |title=All Press is NOT Equal in Value! |url=http://derekerwin.blogspot.com/2008/10/all-press-is-not-equal-in-value.html |publisher=A 1-In-100 Blogger |author=Derek Erwin |date= 2008-21-10|accessdate=2008-21-10}}</ref> and is the first person to admit when wrong. Cramer mentioned, "Look, I was taken in, the guy pantsed me. I made a mistake. The [[SEC]] is investigating Steel's appearance on the show for truthfulness, though. I made a mistake, but they're investigating him to see if he lied. Bigger issue. Sometimes you just get had."<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-09-03|accessdate=2009-09-03}}</ref>

On March 9, 2009, during a segment on ''Mad Money'',<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-09-03|accessdate=2009-09-03}}</ref> Jim Cramer said Frank Rich "chastised me for endorsing Wachovia's stock after then-CEO Bob Steel came onto Mad Money and spoke positively about the bank." After the bank collapsed, Jim Cramer reminded viewers that he takes pride in "the part about accountability,"<ref>{{cite web |title=All Press is NOT Equal in Value! |url=http://derekerwin.blogspot.com/2008/10/all-press-is-not-equal-in-value.html |publisher=A 1-In-100 Blogger |date= 2008-21-10|accessdate=2008-21-10}}</ref> and is the first person to admit when wrong. Cramer mentioned, "Look, I was taken in, the guy pantsed me. I made a mistake. The [[SEC]] is investigating Steel's appearance on the show for truthfulness, though. I made a mistake, but they're investigating him to see if he lied. Bigger issue. Sometimes you just get had."<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics  |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-09-03|accessdate=2009-09-03}}</ref>

On the same day,<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-10-03|accessdate=2009-10-03}}</ref> Jim Cramer also admitted, "OK, I'm a tempting target. Plenty of people come in and give their criticism on this show. But we're dealing with serious issues here; we need solutions, which I offer almost every night. I don't want [[ad hominem]] attacks. Take [[Frank Rich]] and [[Jon Stewart]]; I criticize Obama, so both of them seize on the [[urban legend]] that I recommended [[Bear Stearns]] the week before it collapsed, when I simply told an emailer that the deposit in his account at Bear Stearns was safe. 'Your money is safe in Bear Stearns,'"<ref>[http://www.cnbc.com/id/23575614 Mad Mail: Is Bear Stearns in Trouble?]</ref> Cramer repeated, referring to his own quote during a March 11, 2008 segment of ''Mad Money''. Moreover, Cramer outlined, "But through a clever sound bite, Stewart,<ref>{{cite news |title=CNBC Gives Financial Advice |url=http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice |publisher=The Daily Show |date= 2009-05-03|accessdate=2009-05-03}}</ref> and subsequently Rich<ref>{{cite news |title=Some Things Don’t Change in Grover’s Corners |author=Frank Rich|url=http://www.nytimes.com/2009/03/08/opinion/08rich.html?em |publisher=New York Times |date= 2009-07-03|accessdate=2009-07-03}}</ref> - neither of whom have bothered to listen to the context of the pulled quote - pass off the notion of account safety as an out-and-out buy recommendation. If you called ''Mad Money'' and asked me about [[Citigroup]], I would tell you that the common stock might be worthless, but I would never tell you to pull your money out of the bank because I was worried about its solvency. Your money is safe in Citi as I said it was in Bear. The fact that I was right rankles me even more."<ref>{{cite news |title=Cramer Takes on the White House, Frank Rich and Jon Stewart |url=http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart?page=4 |publisher=MainStreet |date= 2009-09-03|accessdate=2009-09-03}}</ref> Cramer then argued, "I called out [Paulson<ref>{{cite news |title=Cramer's 'Mad Money' Recap: Dec. 16 |url=http://www.thestreet.com/story/10453585/1/cramers-mad-money-recap-dec-16.html |publisher=TheStreet |author=Jim Cramer |date= 12/16/08|accessdate=12/16/08}}</ref> and Geithner<ref>{{cite news |title=Cramer: Where the Heck Is Tim Geithner? |url=http://www.cnbc.com/id/29304624 |publisher=CNBC |date= Friday, 20 Feb 2009|accessdate=Friday, 20 Feb 2009}}</ref>] for their mistakes, where was [[Frank Rich]] praising me on that? Where was that?"<ref>{{cite news |title=No Respect: Cramer Criticizes His Critics |url=http://www.cnbc.com/id/29601234 |publisher=CNBC |date= 2009-10-03|accessdate=2009-10-03}}</ref>

 

Jim Cramer apologized both on ''Mad Money'' and on the ''[[Today Show]]'' for believing in Steel.<ref>{{cite news |title=Jim Cramer: "I Screwed Up. I Apologize" |url=http://www.mediabistro.com/tvnewser/cnbc/jim_cramer_i_screwed_up_i_apologize__96078.asp |publisher=TVNEWSER |date= 2008-30-09|accessdate=2008-30-09}}</ref>

== Biographies ==

== Biographies ==