Categories: OLD Media Moves

Jim Cramer goes nuts on CNBC

Barry Ritholtz writes on his The Big Picture blog that “Mad Money” host Jim Cramer went nuts — even more so than usual — during an interview with Erin Burnett on CNBC on Friday.

Ritholtz wrote, “It is destined to become a classic Wall Street legend. I expect it will become required viewing for market historians and technicians alike.

“There’s no other way to say this: Jim goes postal. When Cramer essentially begs the Fed Chair to rescue the big Investment banks, you know things have gone awry.”

Later, he added, “A truly astonishing performance. Kudos to Erin for maintaining her cool, as well as not adding to the madness.

“I have two words for Jim: Moral Hazard. Contrary to everything we learned under Easy Alan Greenspan, it is not the Fed’s role to backstop speculators and guarantee a one way market.”

Read more here. And watch the clip here.Â

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.