http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/589/Default.aspx
A must read. As is :
CRAMER'S BIG MOUTH
CLIP COULD RUN AFOUL OF CNBC
By RODDY BOYD
March 21, 2007 -- CNBC host Jim Cramer's candor in a now-infamous video clip that has circulated on YouTube may have run afoul of the terms of his broadcast contract, sources told The Post.
The clip, which had Wall Street tongues wagging earlier this week after Cramer admitted in it to manipulating stock prices during his hedge fund days, may have also violated CNBC rules about disparaging on-air talent.
During the controversial 10-minute clip, Cramer described a variety of tactics that hedge fund managers use to affect a stock's price. To keep a stock's price down, Cramer said one strategy is to spread rumors to reporters he described as "the Pisanis of the world."
The comment was a reference to CNBC correspondent Bob Pisani, who reports from the trading floor of the New York Stock Exchange.
"You have to use these guys," said Cramer, whose track record managing $450 million at his hedge fund Cramer Berkowitz was a robust 24 percent average annual return.
Shortly after mentioning Pisani, he also discussed giving information to "the bozo reporter from The Wall Street Journal" to get an article published.
According to people familiar with the network's practices, most CNBC employment contracts have a "disparagement clause," which prohibits employees or contractors from publicly insulting or criticizing on-air talent. Considered boilerplate, most networks regularly insert similar language into their broadcasters' contracts, sources told The Post.
Pisani did not return an e-mail seeking comment. CNBC executives did not reply to repeated phone and e-mail messages seeking comment.
Cramer also has not responded to repeated requests for comment.
roddy.boyd@nypost.com
http://yahoo.reuters.com/news/artic...3-20_22-55-20_N20362926&type=comktNews&rpc=44
http://www.nasaa.org/NASAA_Newsroom/Current_NASAA_Headlines/6397.cfm
To listen to the webcast live:
http://www.visualwebcaster.com/nationalpressclub/NASAA/event.html
March 19, 2007
NASAA Announces Panelists for March 22 Symposium
Program to be Webcast; Registration Still Open
WASHINGTON--The North American Securities Administrators Association, Inc.
(NASAA) today announced panelists for its public symposium, ³Protecting
Investors and the Integrity of Financial Markets,² and also set plans to
broadcast the event live on the Internet.
The Symposium, which is free and open to the public on a first come, first
serve basis, will be held on Thursday, March 22 in the Holeman Lounge of the
National Press Club, 529 14th Street NW, in Washington, DC. To reserve a
seat, please contact Lonnie Martin, at 202-737-0900 or
lm@nasaa.org
<mailto:%20lm@nasaa.org> , by 11 a.m. March 20. Onsite registration begins
at noon, followed by a light luncheon. The program begins at 12:30 p.m.
To listen to the audio-only webcast, please visit the NASAA website
(
www.nasaa.org <
http://www.nasaa.org/> ) or click here
<
http://www.visualwebcaster.com/thepressclub-NASAA-032207> . The webcast
will begin at 12:30 p.m. (EDT) on March 22 and will be archived on NASAA¹s
website for later listening.
The Symposium will be moderated by Mercer Bullard, a leader in the fight for
shareholder rights, and will feature a diverse panel of experts to respond
to recent suggestions that U.S. capital markets are losing their competitive
edge because of burdensome regulations and regulators who are aggressively
protecting investors. Panelists include:
. James D. Cox, Professor, Duke University School of Law;
. Tanya Solov, Illinois Director of Securities;
. Willis Riccio, Partner, Adler, Pollock & Sheehan;
. Nancy Smith, Vice President, Investment Services, AARP Financial; and
. Charles Prestwood, former Enron employee.
.
NASAA is the oldest international organization devoted to investor
protection. Its membership consists of the securities administrators in the
50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands,
Canada, and Mexico.
WHEN IT ENDS, IT WILL BE PRECIPITATED BY THE STATES. THIS IS PROBABLY A GOOD LISTEN. CAN YOU FEEL THE LOVE? THIS IS WRAPPING UP. AND WHEN I GET TIME, I'LL SHOW YOU CRAMER NAKED SHORTING, WITH REFERENCES. THIS IS ALL THE SAME BATTLE.
