CNBC's Cramer boasts of manipulating markets

USA TODAY, March, 2007 by Matt Krantz

CNBC TV host Jim Cramer has made a name for himself telling viewers how to make money in the stock market. Here's one time he might wish he'd kept quiet.

In a video originally broadcast on trading website TheStreet.com on Dec. 22, 2006, that resurfaced this week on YouTube, Cramer discusses at length ways he and other hedge fund managers have been able to manipulate security prices for quick gains.

"A lot of times when I was short (stocks) at my hedge fund ... meaning I needed it (the stock) down ...I would create a level of activity beforehand that would drive the futures," the Mad Money host said in a broadcast that was removed from YouTube Thursday but was available on TheStreet.com as of Thursday night. "It's a fun game, and it's a lucrative game." ...