Article: In Cramer We Trust

Article - Media, Publications

In Cramer We Trust

HARRISON R. T. WARD,  24 March 2021

Without trust, markets break down. The U.S. dollar is a fiat currency, which means that its value is derived from the trust we ascribe to our government; as that trust wanes, Americans turn away from traditional financial institutions. During the 2008 financial crisis, many everyday Americans, unsure of who to trust, took their money out of banks en masse. Large commercial banks began to fail; by 2012, almost 450 banks had collapsed. Today, deep into a historic pandemic and recession marked by political division, Americans’ trust is waning again.

On Jan. 27, a group of amateur traders helped push the stock of struggling video game retailer Gamestop to a price of $347 per share. Alarmed, financial experts took to the air to warn against what Alan Greenspan, former chair of the Federal Reserve, calls “irrational exuberance” — an unreasonable, optimistic view that the market will keep rising. Jim J. Cramer ’77, host of CNBC’s finance show “Mad Money,” was of those exasperated experts — “People begin to think, ‘Are prices real?’” he exclaimed on the air. Continue reading “Article: In Cramer We Trust”

Article: Jim Cramer Responds to Fox News Lawsuit After TheStreet.com

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Jim Cramer Responds to Fox News Lawsuit After TheStreet.com

NEW YORK, June 6 /PRNewswire/ — In the wake of Fox News’ airing of the
final “TheStreet.com” show on May 28, 2000, former program panelist James J.
Cramer has filed counterclaims against Fox News. Alleging that Fox News
breached its contract, Cramer, a partner in the hedge fund Cramer Berkowitz,
charges that Fox News invented new policies that it applied only to him which
made it impossible for Cramer to appear on the program. Cramer also states he
is now free to appear on other TV networks because TheStreet.com show has been
canceled, and his contract with Fox News provided that the agreement would
terminate if Fox News discontinued airing the program.

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