Major Controversies Surrounding Jim Cramer: A Detailed Timeline

A closer look at the most debated and controversial moments involving Jim Cramer.

Jim Cramer is a well-known American television personality, author, and former hedge fund manager. He hosts CNBC's Mad Money and is an anchor on Squawk on the Street. After Harvard, he worked at Goldman Sachs before starting his hedge fund, Cramer Berkowitz. He also co-founded TheStreet.com, contributing articles from 1996 to 2021. Cramer gained further recognition with Mad Money, which premiered in 2005. He has authored several books on finance and investing, offering his perspectives and strategies for navigating the market.

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Full Timeline Early Life & Education Career & Achievements Challenges & Struggles Controversies & Scandals

December 2006: Stewart Challenges Cramer on Short-Selling Contradiction

During a conflict between Jon Stewart and Jim Cramer, Stewart presented video clips from December 2006 in which Cramer discussed spreading false rumors to drive down stock prices and encouraged short-selling by hedge funds. Stewart challenged Cramer to protect viewers from this behavior and suggested changes to his reporting approach.

December 2006: Hedge Fund Activities to Manipulate Stock Prices

In December 2006, Jim Cramer described activities, some of debatable legality and others illegal, used by hedge fund managers, including himself, to manipulate stock prices. He explained how he could use as little as $5 million to push stocks higher or lower and encouraged hedge funds to engage in this type of activity because it is a "very quick way to make money."

December 22, 2006: Cramer Discusses Spreading False Rumors

In a video clip from December 22, 2006, Jim Cramer talked about spreading false rumors to manipulate stock prices. He also encouraged hedge funds to engage in short-selling as a means to generate returns, calling it a very quick way to make money.

March 11, 2008: Cramer's "Mad Money" Bear Stearns Recommendation

On March 11, 2008, during an episode of Cramer's show Mad Money, in response to a viewer's question about concerns regarding Bear Stearns' liquidity, Cramer stated, "No! No! No! Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear."

March 17, 2008: Cramer Clarifies Bear Stearns Comments

On March 17, 2008, Jim Cramer clarified that his previous statements about Bear Stearns were related to the liquidity of accounts held at the firm, rather than a recommendation for the common stock. He stated that he was allaying concerns about account holders' liquidity in their Bear Stearns brokerage accounts.

September 19, 2008: Cramer Blames Federal Reserve for Housing Bubble

On September 19, 2008, during an appearance on Hardball with Chris Matthews, Jim Cramer blamed the Federal Reserve for the United States housing bubble.

March 2, 2009: Cramer Criticizes Obama's Agenda

On March 2, 2009, Jim Cramer stated that then-President Barack Obama was pursuing a "radical agenda" and blamed him for "the greatest wealth destruction I have seen by a president". White House Press Secretary Robert Gibbs responded to Cramer's statements.

March 5, 2009: Cramer Responds to White House Criticism

On March 5, 2009, Jim Cramer responded to criticism from the White House, citing the stock market's decline since President Obama's inauguration and expressing concerns about the potential impact of proposed policies like raising taxes, healthcare changes, and cap-and-trade programs.

March 8, 2009: Cramer Responds to Frank Rich's Charges

Referring to charges leveled against him by The New York Times columnist Frank Rich on March 8, 2009, Jim Cramer questioned the timing of President Obama's plans to raise taxes, implement cap-and-trade limitations, and rework the healthcare system during a recession, suggesting those plans should be addressed later.

March 12, 2009: Cramer Admits Mistakes on Bear Stearns Calls

On March 12, 2009, during a conflict with Jon Stewart on The Daily Show, Jim Cramer admitted that he made mistakes regarding his Bear Stearns calls.

2009: Cramer's Dispute with Nouriel Roubini

In 2009, Jim Cramer criticized Nouriel Roubini, suggesting he was overly confident in his predictions. Roubini responded by calling Cramer a "buffoon" and telling him to "just shut up." Cramer then invited Roubini to appear on his show to repeat the statement.

September 15, 2020: Cramer Addresses Pelosi as "Crazy Nancy"

On September 15, 2020, during a TV interview with U.S. Speaker of the House Nancy Pelosi, Jim Cramer referred to her as "Crazy Nancy" and defended his actions in subsequent tweets. He later apologized for using the phrase.