Business 8th Edition by Marianne Jennings

Exercise 8

James J. Cramer is the host of CNBC's Mad Money. He was interviewed for TheStreet.com, and the video showed up on YouTube. On the video Mr. Cramer explained how he was able to make real money by manipulating markets. He said that if he wanted to make a stock look bad, he would spread negative information to a "bozo reporter" at the Wall Street Journal. He also noted that Bob Pisani of CNBC is another "useful conduit" for negative information. "No one else in the world would ever admit it, but I don't care."24 After CNBC pulled the YouTube video, Mr. Cramer appeared on the Don Imus radio program and said that he did not do any of those things. He also said that Mr. Pisani is one of the best, but he failed to answer the question Mr. Imus asked, "Who's the bozo at the Wall Street Journal ?"
If what Mr. Cramer said was true, evaluate his ethics. If what he said was false, evaluate his ethics.