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Could Jim Cramer be sued?

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posted on Apr, 18 2010 @ 09:55 PM
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In addition to personally finding him one of the more repulsive media clowns currently in operation, I was wondering idly if there would be any grounds to sue the man. After all, he dispenses ridiculous financial advice to extremely gullible fools, and routenely appears to pump and pimp what has generally proven to be utterly worthless stock.

What he does is, without a question, obscenely immoral. But is it illegal? I'm guessing probably not, but I wonder.




posted on Apr, 18 2010 @ 10:09 PM
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That's why they play that 30 second, 90 MPH disclaimer after his ~advice~


IMHO...the man is a menace and is probably betting against everything he pushes...



posted on Apr, 18 2010 @ 10:14 PM
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reply to post by silent thunder
 


Something doesn't have to be illegal to qualify for a lawsuit, and, in this case, giving bad advice fails to qualify (you could take him, but it's not worth the cost of a lawyer, lol). Though to speak, I don't know much about the man



posted on Apr, 18 2010 @ 11:47 PM
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reply to post by Hx3_1963
 


Ding Ding Ding

But he does have to by law disclose if he is a participant or not.

But he doesn't have to give you good advice by law for 1 reason or another...

There was a poster on here before that has left and hasn't came back.. but he could add in some well..

So you can't really sue him..

This should help



posted on Apr, 19 2010 @ 12:28 AM
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You going to sue him because you took his advice without doing some actual research into a company yourself?

Is your basis for your lawsuit is that you are stupid and take advice from people on tv on what to do with your money?

Just using you as an example OP because you are the one looking for a scapegoat for the morons who actually did that.



posted on Apr, 19 2010 @ 12:34 AM
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reply to post by Miracle Man
 


I really doubt ST has ever listened to this guy, if at all lately lol



posted on Apr, 19 2010 @ 12:40 AM
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Assuming you could sue him for one reason or another, just remember you'd be going up against CNBC itself (and also GE if i remember correctly they own CNBC).

It would be millions of $ worth of lawyers vs. what $ you can cough up with for a lawyer.



posted on Apr, 19 2010 @ 12:42 AM
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reply to post by LOLZebra
 


comcast actually now I believe



posted on Apr, 19 2010 @ 12:57 AM
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All opinions expressed by Jim Cramer on this show are solely his and do not reflect the opinions of CNBC, NBC UNIVERSAL or their parent company or affiliates. Cramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Cramer's statements and opinions are subject to change without notice. No part of Cramer's compensation from CNBC is related to the specific opinions he expresses.

"Past performance is not indicative of future results. Neither Cramer nor CNBC guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on the show. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested.

"Investments or strategies mentioned in this show may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on the show.

"Before acting on information in the show, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Also remember that nothing I say on this website is investment advice, nor is it a recommendation to buy or sell any financial instrument.
That being said, buy QQQQ calls, the market is spooked right now so they're undervalued



posted on Apr, 19 2010 @ 01:10 AM
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Originally posted by Miracle Man
You going to sue him because you took his advice without doing some actual research into a company yourself?

Is your basis for your lawsuit is that you are stupid and take advice from people on tv on what to do with your money?

Just using you as an example OP because you are the one looking for a scapegoat for the morons who actually did that.


As GreenBicMan correctly noted, I am not in the habit of watching such tripe. I get my financial news from Ye Olde Bloomberg, among other (more or less) impartial sources. And for financial entertainment value, I turn to...well, places like ATS, among others. Cramer is neither informative nor entertaining.

And no, I am not "going to sue him." I was wondering idly, as stated, whether or not he could be sued. With the laywers waking up from what seems like a decade-long slumber and going after the Vampire Squid, it got me to thinking about who is potentially culpable for what.

[edit on 4/19/10 by silent thunder]



posted on Apr, 19 2010 @ 01:16 AM
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reply to post by silent thunder
 


Yeah, you are obviously not a long time watcher because he has quite the disclaimer built into it.

IMO all of CNBC should have a disclaimer at the bottom of it running along like the tape.

My favorite fake out CNBC move (and this has never failed at anytime)

1) At the end of the day they will say something like at 3:45 (15 before close), "We are seeing a large trade imbalance on x side". Meaning one side is flooded with sell orders or buy orders (usually sell side).

2) Then they will say, "When this happens for x's side, you can expect a higher or lower close from here". So if it is a trade imbalance to short side, they will say, "Expect a much lower close from here."

3) When you hear this GO ABSOLUTELY AS FAST AS YOU CAN THE EXACT OPPOSITE WAY. I wish I had taped video evidence of this.

--Whatever you do, fade this BIG TIME.

About 5 minutes after this you see it take off THE EXACT OPPOSITE WAY.

It is my estimation that a big player is paying Bob Piezano to shoot some information one way so a big player can UNLOAD on all these fools..

haha.. if it was only that easy like CNBC says I swear

[edit on 19-4-2010 by GreenBicMan]



posted on Apr, 19 2010 @ 02:58 AM
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Originally posted by Hx3_1963
That's why they play that 30 second, 90 MPH disclaimer after his ~advice~


IMHO...the man is a menace and is probably betting against everything he pushes...


That last part would be highly illegal...he runs a charity which is the only thing he trades in...

In any case, no he can't be sued...at least not for some idiot who listens to him's stock losses.



posted on Apr, 19 2010 @ 03:08 AM
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Originally posted by Hx3_1963
IMHO...the man is a menace and is probably betting against everything he pushes...


He is like warren buffet, playing people for fools.

Also like horse race trainers who go on tv and talk and lie about there horses, never trust them, lol.



posted on Apr, 19 2010 @ 01:48 PM
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95% of CNBC is just financial pornography. And Cramer is the financial porn starlet that will take it in any orifice. People should realize that this is made to mainly be entertainment, and the information is minimal. I think it speaks more to the fact that most people cannot find worthwhile and honest investment advice, so they are forced to turn on the financial porn channel.



posted on Apr, 19 2010 @ 01:57 PM
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reply to post by silent thunder
 


He's a decrepit asshat who deserves .. well I cannot say what he really deserves.. violate the T&C..

He cannot be sued, because his disclaimer advises he has no position to give financial advice and that hes essentially entertainment.

He's the biggest assclown on TV with his ridiculous, unfunny show where he gives some of the absolute worst financial advice known to man. His best being "Buy bear sterns! It's a steal!"

You'd think, with his horrible advice he'd be dirt poor.. but it's basically a pump and dump .. he buys, tells people to buy, he sells, everyone else gets screwed.

My fav Cramer moment... seeing him destroyed by John Stewart for being the dirt bag he is.



posted on Apr, 19 2010 @ 02:01 PM
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reply to post by GreenBicMan
 


lmao.. if thats true, you should piece together a few days showing where that happens.. that would truly be something to see (I don't pay for cable, thus don't watch CNBC)

Corrupt old dogs... I personally always liked Bloomberg channel much better than CNBC .. less flashy, more fundamentals.



posted on Apr, 19 2010 @ 02:02 PM
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No his disclaimer says for entertainment purposes only.
been there done that - but what I would do if I were you
is use Jim to pick out the manipulated stocks (he gets
paid to steer the herd) so, look at that chart make a
decision Jim is selling road apples and go the other way.
you make more with Jim than suing Jim.



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