-On manipulating the market: "A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures."
-On falsely creating the impression a stock is down (what he calls "fomenting"): "You can't foment. That's a violation... But you do it anyway because the SEC doesn't understand it." He adds, "When you have six days and your company may be in doubt because you are down, I think it is really important to foment."
-On the truth: "What's important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view - it is important to create a new truth to develop a fiction," Cramer advises. "You can't take any chances."
Did Jim Cramer really indict himself in the heat of an interview?
The only thing bigger than Cramer’s loud mouth is his ego. Why he’d admit to illegal activities as a hedge fund manager is beyond me. Why CNBC continues to employ this charlatan is even more puzzling.
