By December 2006, the cover-up of widespread stock manipulation by favored hedge funds with friends in the financial press was starting to unravel among all thinking observers. Thus, Jim Cramer repositioned himself from a total skeptic who derided this as just some wacky theory of a malcontent CEO, to something Jim Cramer knew about all along and in which he had participated (because he is such a crucial part of the “smart money”). Which is, of course, precisely the claim I made about him in the Miscreants’ Ball.
As I have shown, in his writing Jim is up-front about his own law-breaking. However, the previous video, with its confession of participation in crimes, apparently embarrassed Jim when it became public. He continued to shift his position, now remaining vague about whether he is talking about himself, or about other people. (I am reminded of something I figured out when I was about 10: When adults espouse psychological theories about how others behave, they were generally talking about themselves. Please remember that hypothesis as you watch the following two clips.)
On March 2, 2007, Jim explained what he he did when he ran a hedge fund. Or is he just saying that this is what he saw when he ran a hedge fund? He stays just coy enough that it is hard to say, but after he gets it off his chest, he acts like a blow-hard with his colleague, trying, in my view, to to bury psychically what has just confessed publicly.
Then, on March 9, 2007, Jim Cramer explicitly stated on his TV show that hedge funds work with compliant members of the financial media to manipulate stock. In other words, he said just what I had been saying for two years, that he had been deriding.
When I first began to raise the issues being explored in DeepCapture, I was roundly and severely criticized, especially by CNBC, and especially by Jim Cramer. They did this though they (or at least, Jim Cramer) knew I was right. Once the issues raised by DeepCapture became impossible to ignore, Jim Cramer began dealing with his guilty knowledge by explaining these issues to the public, in the process saying precisely what I had been saying since 2004, for which I had been roundly and continuously criticized, especially by CNBC, especially by Jim Cramer. Thus, if the preceding pieces have a surreal quality, it means you were paying attention.