How CNBC (Becky Quick, Jim Cramer, and Joe Kernan) Can Solve Its Collapsing Viewership Problem

    One of the proudest moments of my life came the day that the CNBC producer called to tell me that the article I had written on Jim Cramer was the single meanest thing she had ever read in her life and that I was banned from CNBC forever.

    The article in question, “Jim Cramer Is a Complicated Man,” is largely composed of quotes from Jim’s own writings, with some minimal explication from me. Though Jim’s confessions are tawdry enough to make a pimp squirm, since that piece largely draws upon extensive quotes from Jim’s own writing I do not see how it can be called, “mean”. I do know that various people (e.g., a Georgetown Law School professor friend) who read it have upon completion expressed dumfounded disgust at Cramer.

    There is also, of course, the additional issue of the video I caused to be supplied to Comedy Central a year later, a video which Jon Stewart used to publicly humiliate Jim Cramer in a way that in any sane world would have left Jim lucky to be delivering weather forecasts from Butte, Montana.

    Thus I was surprised to see on June 5, 2014 Ms. Becky Quick declare on air that she “would love to have Patrick [me] on” CNBC, followed by Joe Kernan’s faux-bewildered account deliberately distorting my early and prescient criticisms of Wall Street. I was not surprised, however, to see Jim Cramer coyly declare that Overstock.com is the one stock in the universe of stocks upon which he will not comment.


     

    I immediately posted a blog accepting Ms. Quick’s invitation (“My Response to Becky Quick’s Proposal: I Do“). Naturally, since the moment that I picked up the gauntlet that the three of them threw down that morning, CNBC has gone dark. No one there, not a journalist, not a producer, not a technician, will reply to my  request that they simply name a time and place for me to appear.

    Then recently a post over at Zerohedge (“CNBC Viewership Plunges to 21 Year Low“) brought to light the sad news of the utter collapse of CNBC’s viewership:

    CNBC August 2014

     

    CNBC, I’m here to help. Why not make good on your statement that you “would love to have me on” CNBC, and schedule an appearance? Make it live, promote it ahead of time, and we’ll draw some numbers together.

    Respectfully,

    Patrick M. Byrne

    Journalist, DeepCapture.com

    PS Live broadcast only, naturally.

     

     

     

     

     

    This post was written by:

    - who has written 227 posts on Deep Capture.

    I am a concerned citizen who has been focused on systemic instability since 2004.

    Contact the author

    24 Responses to “How CNBC (Becky Quick, Jim Cramer, and Joe Kernan) Can Solve Its Collapsing Viewership Problem”

    1. Anonymous says:

      Of course Jon Stewart or deepcapture did not credit Roddy Boyd, but thems the breaks

      CRAMER REVEALS A BIT TOO MUCH
      By RODDY BOYD

      March 20, 2007 — Flamboyant Wall Street trader turned TV host Jim Cramer, not known for being the shy, retiring type, might have said too much in a video interview he did for a financial Web site.
      The host of CNBC’s daily program “Mad Money” had hedge fund-trading desks buzzing yesterday after he bragged about manipulating stock prices during his days as a trader.

      In the video from TheStreet.com’s “Wall Street Confidential” Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.

      “A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It’s a fun game,” Cramer said in the Webcast, which was moderated by TheStreet.com Executive Editor Aaron Task.

      Cramer later said that “no one else in the world would ever admit that, but I don’t care.”

      However, seconds later, he acknowledged, “I’m not going to say that on TV,” referring to his show on CNBC.

      A remarkably successful money manager when he ran the $450 million Cramer Berkowitz hedge fund, Cramer in the Webcast shared his “tips” on how to drive a stock price down so that a short-position – a bet that a stock price would drop – remains profitable.

      He added that the strategy – while illegal – was safe enough because, “the Securities and Exchange Commission never understands this.”

      A call to Cramer was not returned.

    2. sean says:

      Really anon… that’s your beef.. Roddy “I am also in cohoots with the Wall Street Miscreants” Boyd didn’t get credit for writing a PUFF piece about the admittance of a crime on tape by a Wall Street self proclaimed guru/criminal and you want him to get credit? Fool please!!! Patrick, these clowns are grasping at straws…and I love it when you make them squirm.. you think they know that their days are numbered? I do!! LOL! Thanks ago, and CNBS will never put you on their air (although it will give a major boost to their viewership) they have way too many crimes that they neeed to hide!!

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    4. si_ravenseye says:

      Jim Cramer On “Daily Show”: Full Unedited, Uncensored Video
      Huffington Post Posted: 04/13/2009 5:12 am EDT Updated: 05/25/2011 1:10 pm EDT
      http://www.huffingtonpost.com/2009/03/13/jim-cramer-on-daily-show_n_174558.html

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    7. charles says:

      live broadcast? thats not going to happen! lol

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    9. si_ravenseye says:

      Maria Bartiromo’s husband is Jonathan Steinberg
      Maria Bartiromo’s last broadcast on CNBC was in November 2013
      Michael Steinberg found guilty of inside trading December 2013

    10. sean says:

      si_ravenseye nice find.. now we know why she booked over to Fixed News!!! Bunch of crooks.

      Now where have I heard this term Naked Shorting before? HHHMMMNNN!!!

      Paul Craig Roberts: “A Rigged Gold Price Distorts Perception Of Economic Reality”

      http://www.zerohedge.com/news/2014-09-24/paul-craig-roberts-rigged-gold-price-distorts-perception-economic-reality

      The Federal Reserve and its bullion bank agents (JP Morgan, Scotia, and HSBC) have been using naked short-selling to drive down the price of gold since September 2011. The latest containment effort began in mid-July of this year, after gold had moved higher in price from the beginning of June and was threatening to take out key technical levels, which would have triggered a flood of buying from hedge funds.

    11. si_ravenseye says:

      sean here is more of interest … two jury trial results
      The Michael Steinberg sentence of 3.5 years in May 2014.
      The Mathew Martoma sentence of 9 years in September 2014.
      Both were portfolio managers for SAC Capital now named Point72.

      Per the USDOJ Southern District of New York November 3, 2013
      “SAC Management Companies Agree to Plead Guilty to All Counts in
      Criminal Indictment, Pay $1.8 Billion, and Terminate SAC Capital’s
      Investment Advisory Business”, the same month as Bartiromo’s last
      broadcast on CNBC and about a month and a half before the jury
      found Michael Steinberg guilty.

      Add in July 2013 “SEC Charges Steven A. Cohen With Failing to Supervise Portfolio Managers and Prevent Insider Trading” along with the US Attorney requests (done in three month incriments that have been honored so far) for the SEC to stay stevies civil proceedings pending appeal results for criminal charges I assume to mean the inside trading sentences for Todd Newman 4.5 years, Anthony Chiasson 6.5 years, Michael Steinberg 3.5
      years and Matthew Martoma 9 years.

      I’ve read the Steinberg appeal will depend on the Todd Newman and
      Anthony Chiasson inside trading convictions appeal results.

      If portfolio managers were to flip on Cohen in an attempt to reduce their sentences on appeal, his ex-wife would have the last laugh. Martoma’s parents asked why Cohen hadn’t been charged with inside trading. My answer is it would probably be in the best interest of their son to flip, to make it happen if he can.

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      • Susannah says:

        Por supuesto, Charo.Decía muy bien un profesor mío de literatura que atribuir los sucesos al destino es fomentar la irdiiponsabsledar.Cuánta razón tenía.El activismo por los Derechos Humanos está sobradamente ocupado, pero por supuesto que la lucha contra la violencia vial es otra de sus causas, aunque tenga tintes muy particulares.

      • Por eso digo que los artículos 56 al 65 de la constitución -que hablan de la monarquía- tienen que desaparecer, es una vergüenza que en pleno siglo de las crisis sigamos manteniendo a este tipo de familias parásitas.Un saludo.

    13. si_ravenseye says:

      …The government avoided punitive terms for Citigroup because it feared doing so would encourage shortsellers to attack other banks, further destabilizing the economy, Paulson testified. …
      http://www.bloomberg.com/news/2014-10-06/paulson-discussed-u-s-financial-bailout-with-china.html
      Paulson Says AIG Harsh Loan Terms Meant to Send Message
      By Andrew Zajac and Christie Smythe Oct 6, 2014 1:31 PM CT

    14. sean says:

      How is this man still on the air and not sharing a cell with Madoff is beyond and rationale persons thinking. They are out to destroy the average investor and steal every dime that they can, there is no doubt that the Government and CNBC are working together, this confirms it!! Please don’t forget his Bear Stearns recommendation also (along with MANY other winners in between!!) I hope Jon Stewart gets a copy of this post!!! LOL!!

      Cramer Does It Again: GTAT -93% Since Aug 26th Recommendation

      http://www.zerohedge.com/news/2014-10-06/cramer-does-it-again-gtat-93-aug-26th-recommendation

    15. Anonymous says:

      It looks like the CNBC viewership chart is a exact replica of Overstocks recent stock price.

    16. si_ravenseye says:

      Short Sale Position and Transaction Reporting
      As Required by Section 417 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
      http://www.sec.gov/dera/reportspubs/special-studies/short-sale-position-and-transaction-reporting.pdf
      This is a report of a study by the Staff of the Division of Economic and Risk Analysis of the U.S. Securities and Exchange Commission. The Commission has expressed no view regarding the analysis, findings, or conclusions contained herein. June 5, 2014

    17. si_ravenseye says:

      http://www.finra.org/Newsroom/NewsReleases/2014/P601399
      For Release: October 27, 2014
      Merrill Lynch Professional Clearing Corp. and Merrill Lynch, Pierce, Fenner & Smith Incorporated Action
      http://disciplinaryactions.finra.org/viewDocument.aspx?DocNb=37826

      FINRA Fines Merrill Lynch a Total of $6 Million for Reg SHO Violations and Supervisory Failures

      WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined Merrill Lynch Professional Clearing Corp. (Merrill Lynch PRO) $3.5 million for violating Regulation SHO, an SEC rule that established a regulatory framework to govern short sales and prevent abusive naked short selling. FINRA also censured and fined its affiliated broker-dealer, Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), $2.5 million for failing to establish, maintain and enforce supervisory systems and procedures related to Regulation SHO and other areas.

      In addition to curtailing naked short selling, among other things, Regulation SHO also aims to reduce the number of instances in which sellers fail to timely deliver securities. Regulation SHO requires a firm to timely “close out” any fail-to-deliver positions by borrowing or purchasing securities of like kind and quantity. Additionally, Reg SHO permits firms to reasonably allocate fail-to-deliver positions to its broker-dealer clients that caused or contributed to the firm’s fail-to-deliver position.

      FINRA found that from September 2008 through July 2012, Merrill Lynch PRO did not take any action to close out certain fail-to-deliver positions, and did not have systems and procedures in place to address the close-out requirements of Regulation SHO for the majority of that period. FINRA also found that from September 2008 through March 2011, Merrill Lynch’s supervisory systems and procedures were inadequate and improperly permitted the firm to allocate fail-to-deliver positions to the firm’s broker-dealer clients based solely on each client’s short position without regard to which clients caused or contributed to Merrill Lynch’s fail-to-deliver position.

      Brad Bennett, FINRA’s Executive Vice President and Chief of Enforcement, said, “Firms must ensure that their supervisory systems are designed to address and ensure compliance with Regulation SHO. In these cases, each firm’s failure to establish systems and procedures to properly close out its fail-to-deliver positions could have potentially negative market impact, which could harm investors.”

      FINRA’s investigation was conducted by the Departments of Enforcement and Market Regulation.

      Investors can obtain more information about, and the disciplinary record of, any FINRA-registered broker or brokerage firm by using FINRA’s BrokerCheck. FINRA makes BrokerCheck available at no charge. In 2013, members of the public used this service to conduct 16.5 million reviews of broker or firm records. Investors can access BrokerCheck at http://www.finra.org/brokercheck or by calling (800) 289-9999. Investors may find copies of this disciplinary action as well as other disciplinary documents in FINRA’s Disciplinary Actions Online database.

      FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and firms. For more information, please visit http://www.finra.org.

    18. Anonymous says:

      Joe Kernan must go. It’s as simple as that.

      I will not watch/listen to Squawk as long as that bumbling, stuttering, pervert dufous is on the air. Who is making the decision to keep him on the air ? I mean really ! He is totally disruptive, too political, and just plain nasty. Not to mention a king size jerk.

    19. Jim says:

      You gotta have better things to do.

    20. I think you do better thing next time

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