Could this be another case of a chastened CNBC succumbing to criticism from the left to improve its image?
Just a day after CNBC named former Democratic National Committee chairman Howard Dean a CNBC contributor, an uncharacteristically soft-spoken CNBC "Mad Money" host Jim Cramer, appeared on NBC's March 24 "Today" along with CNBC "Squawk on the Street" co-host and "Street Signs" host Erin Burnett. In a tone similar to the apologetic one he had earlier this month on Comedy Central's "The Daily Show," he complimented President Barack Obama's rhetoric toward high executive compensation.
"We have to put the shareholders somewhere in the equation," Cramer said. "When these CEOs make so much money, it hurts the shareholders. We have to be pro-shareholder. The president has become pro-shareholder."
This was quite a change from Cramer's prior stance on Obama's anti-capitalist rhetoric.
For example, Obama criticized Wall Street's moneymaking, including compensation, on Jan. 30, saying there would be a time "for them to make profits, and there will be time for them to get bonuses. Now's not that time. And that's a message that I intend to send directly to them." Cramer responded by comparing the president to the first head of the Soviet Union, Vladimir Lenin
"Let me tell you something, we heard Lenin," Cramer said on MSNBC's Feb. 2 "Morning Joe." "There was a little snippet last week that was, ‘Now is not the time for profits.' Look - in Lenin's book, ‘What Is to Be Done?' is simple text of what I always thought was for the communists, it was remarkable to hear very similar language from ‘What Is to Be Done?' which is we have no place for profits."
Cramer wasn't the only one falling into line with the administration. Burnett also talked about the need for so-called executive compensation reform.
"We haven't moved past it," Burnett said to host Lester Holt. "It is important. There was a shift now that maybe we'll take a deep breath and maybe try to find a way to reform it because there are needed reforms. Executive compensation in this country is much higher relative to average workers than it is in any other country. But, it is still a big question and they probably do need to stand up and say, ‘Give us some rules on how it's going to work to increase the confidence in the system.'"
"It's out of control!" Cramer added.
Traditionally, executive compensation and salaries of every executive employee are decided by the company owners, or the shareholders, through the board of directors and the management team.
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WOW
March 24, 2009 - 13:22 ET by 10ksnookerAnd Crammer gets to keep his job. How cool is that.
I'll bet Cramer changed his
March 24, 2009 - 13:22 ET by Ruths husband BenI'll bet Cramer changed his tune the first time Emmanuel administered water-boarding. Most true capitalists would have resisted for at least 30 seconds.
Obama: "The Fresh Prince of Bill Ayers." -Ed Mahmoud
More likely a note....
March 24, 2009 - 14:23 ET by Prester John...from a "friend" mentioning how embarassing it might be if the books of the hedge fund he used to run were reviewed by the IRS for possible "discrepancies".
Does Cramer have to go into
March 24, 2009 - 13:29 ET by SickofLibsDoes Cramer have to go into a dog crate at night now?
~It's just creepy
March 24, 2009 - 13:34 ET by choselife3xHow many critics of the Obama admin become big fans after being contacted directly by those lovely people. *shiver*
That high-pitched scream you hear is the troll under my heel.
And they said rubber hoses
March 24, 2009 - 14:52 ET by SickofLibsAnd they said rubber hoses were 'old school'.
Cramer: always check the caller-ID... if it says 'Private Caller' do not pick up!
Creepy? Not really. When
March 24, 2009 - 17:26 ET by JerCreepy? Not really. When THE LEADER OF THE PARTY cracks the whip, recalcitrants tend to fall back in line. [Refer to Phil Gingrey and Michael Steele for further examples of this phenomenon.]
Jer
~That's a really yummy looking
March 24, 2009 - 17:43 ET by choselife3xPiece of bread, Jer..............
That high-pitched scream you hear is the troll under my heel.
Chose
March 24, 2009 - 17:57 ET by sherylsimsWhat's THAT supposed to mean? How can you even SAY something like that anyway? What is your problem?
Starting a fight...
<AAAHH Running for cover now!!!>
~Wow sheryl
March 24, 2009 - 18:07 ET by choselife3xYou are bored. I'm glad I'm so entertaining.... :-O
Jer only picks 'fights' with me 'cause he's hoping I'll wrestle with him.
(gotta let a man have his dreams..)
<runs after sheryl with wet noodle>
That high-pitched scream you hear is the troll under my heel.
Drat it all !!
March 24, 2009 - 19:07 ET by RukusWhere's that blasted video camera when ya need it! Sheesh!
Gary
"Things can only bother you if you let them bother you" -My Dad
~Ahhhhhhhhhhhhhh
March 24, 2009 - 19:11 ET by choselife3x<comes running back to chase Gary with wet noodle>
That high-pitched scream you hear is the troll under my heel.
Runs away...
March 24, 2009 - 19:22 ET by RukusAt a very slow trot, almost a walk really. Oops, tripped and fell down. Can't. Get. Up...
Gary
"Things can only bother you if you let them bother you" -My Dad
Hold on a sec...[doing a
March 24, 2009 - 19:26 ET by JerHold on a sec...[doing a quick recon to see if Blonde's around. Nope, don't see her].
Okay, Sheryl and chose...I'll take y'all on at the same time, and have both of you flat on your backs within thirty seconds--begging for a rematch.
Jer
~30 seconds?
March 24, 2009 - 20:14 ET by choselife3xGee, which way could I run with that one?
*hands behind back, whistling............*
That high-pitched scream you hear is the troll under my heel.
Watch out Jer
March 24, 2009 - 20:26 ET by RukusShe's got a wet noodle back there! Least that's what I thought! Sigh.
Gary
"Things can only bother you if you let them bother you" -My Dad
~Aha!
March 24, 2009 - 20:31 ET by choselife3x<Spots Gary, resumes chase, drops noodle, comes back, shakes dirt off it, decides NB needs to be vacuumed, sends Gary to clean NB garage and rake the yard>
That high-pitched scream you hear is the troll under my heel.
Huh?
March 24, 2009 - 20:37 ET by RukusUh, what's a vacuum?
Gary
"Things can only bother you if you let them bother you" -My Dad
~What?
March 24, 2009 - 20:43 ET by choselife3xDid that scenario not work out quite the way you imagined it? *grin*
My husband hates it when that happens............
I tell him it's called 'choreplay'.
That high-pitched scream you hear is the troll under my heel.
Hehe
March 24, 2009 - 20:55 ET by RukusI do the cooking so I'm exempt from the carpet crawler thingy. Gumbo is a good thing! ; )
Gary
"Things can only bother you if you let them bother you" -My Dad
~Mmmm
March 24, 2009 - 21:01 ET by choselife3xMy hubby cooks too. (when I let him, I love it myself)
Your wife and I are lucky women.
And uh, Cramer should have stuck to his guns. :-)
That high-pitched scream you hear is the troll under my heel.
Cramer
March 24, 2009 - 21:09 ET by RukusI can just about guarantee some of Barry's people had a word with him. He wimped out. Probably gonna see that a lot of that the next few years. Sigh. He turned into the weapon of my almost pasta smackdown!
Gary
"Things can only bother you if you let them bother you" -My Dad
No need
March 24, 2009 - 21:14 ET by general companyI can just about guarantee some of Barry's people had a word with him.
No doubt nbc threaten to fire him if he strays from the manuscript again.
"Television is a freak show" Bernie Goldberg
Ahhh...Isn't this
March 24, 2009 - 13:32 ET by bigtimerAhhh...Isn't this special...big pat on the head for the good widdle boys and girls on cnbc for getting in line and being good widdle foot soldiers..
Obama wuvs you once again....so does Soros/Chigaco Machine crew.
You are smiled upon....now just watch your step from here on out.
Cramer amazes all.
March 24, 2009 - 13:51 ET by CTWho'd a thunk he could get dat oversize noggin dat far up dat damp dark place?
Remember the Hillary three am commercial?
March 24, 2009 - 14:23 ET by HanoverfistWho would have thought it would be an OUTGOING call?
I hate to say it, but I agree with Obamination
March 24, 2009 - 14:37 ET by bubbatech01What the average shareholder does not know is that most large publicly traded companies are controlled by a very small group of organizations. Pretty much everyone's retirement account and investment accounts have significant exposure to these companies, so they are important.
The boards of these companies have become inbred, i.e. you elect me to a board and I will elect you (or someone of your choosing) to another. We can set our own compensation, etc. Large hedge funds and powerful investment account managers basically control the boards with little to know input needed, or desired, from the shareholder. They set the nominating committee and the nominees.
Take a look at the boards of these companies and you will find surprising similarities. These boards control executive compensation with little to no recourse provided to the average shareholder (i.e. you and me) to do anything about it.
This is not some stupid conspiracy theory. Its the truth. We need a way to get the shareholder back into the equation without giving major shareholders total control. I am not anti-capital by any stretch of the imagination, but there are major anti-trust issues that are present in these board nominations that the SEC is not bothering to take a look at.
Other than that, BHO is a liar who has not kept a single one of his public campaign promises but i am sure has kept his secret, under the table campaign promises. (should dispell any notion that I support his campaign to turn this country into the United Socialist States of America).
You say the shareholders have no say....
March 24, 2009 - 16:38 ET by timothe...but that is only partially true. Shareholders may change their elections in their 401k. There are thousands of mutual funds to choose from...all of which are rated independently. Individuals may also choose to sell the stock if they own individual stocks.
Mutual fund managers succeed by owning stocks that offer a return on investment. Day traders make money by shorting companies that manage their business poorly. Analysts downgrade companies with poor earnings or cloudy futures.
The stock market is the ultimate in checks and balances. The CEOs who run the most successful companies well earn their fantastic salaries and bonuses every bit as much as the star actors, musicians, and athletes. It is not the government's place to determine who deserves compensation and who does not deserve it.
You fail to remember that many of these currently broken companies are broken due to excessive government interference. You can't blame the CEOs for believing the Federal Government would back all of these crappy loans after forcing them to take the loans. You also cannot blame asset managers for acquiring these crappy mortgage backed securities when Fannie Mae and Freddie Mac were backing these securities.
The crap we're in now starts and ends with the government. These demonized CEOs are mostly blameless.
"Contempt prior to investigation is ignorance. "
As much as I think Cramer is a
March 24, 2009 - 14:46 ET by IgnatzJFahrquardouche with a capital BAG, it still sickens me that ole Mr. Richard Cranium, John Stewart put the ass whoopin' on him and got him to fall into line.
My God man, have some stones. Well, I guess a back room beating from the "bosses" can have that effect on a guy and make him slither in line with the rest.
"It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt." Mark Twain
I wonder what Cramer was up to on the Polaroids.
March 24, 2009 - 14:53 ET by R D HelmLOL-They must have been pretty bad.
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Pictures
March 24, 2009 - 15:19 ET by Sprice2586Cramer was told to drink the Kool-Aide one way or the other. I have never seen a more dramatic turn around in media history.
He likes his place in the world more than he likes truth. A couple of e-mails from well placed power brokers were sent... "did you say jump? How high?"
LOOK AT THE SURPRISE ON MY
March 24, 2009 - 15:29 ET by billbLOOK AT THE SURPRISE ON MY FACE! Now that Howard Dean is the new sheriff at CNBC, Kernen and Santelli need to just SHUT UP! Thank God for Mark Haines.
cramer vs. cramer
March 24, 2009 - 15:42 ET by traderjamescheck out this vid:
http://www.youtube.com/watch?v=zsAVbRF-ZVM&feature=channel
this guy makes a hobby out of calling cramer out on his bad calls and inconsistencies. Good stuff.
LOL Cramer flip-flopped! I'm SHOCKED!
March 24, 2009 - 15:54 ET by c5thenBeyond the fact that he works for GE capital (owners of NBC, CNBC and MSNBC)...if you don't like what Cramer is saying today, just wait a few days and it will change.
Hey, I got the wrong "CHANGE"!
www.loyaltoliberty.com
Stupid me...
March 24, 2009 - 16:04 ET by jawebster1when I heard Cramer quoted as saying "Obama is destroying our wealth", I thought he was wising up. I knew he was a Democrat because I used to watch him when he was on with Larry Kudlow. Now he is backtracking. The Libs made fun of Michael Steele backtracking over his misguided comments on Rush but I bet what's left of my once substantial nest egg, they won't do the same with Cramer. Want to bet? Jim Webster
It'd be funny...if it wasn't so damn serious
March 24, 2009 - 16:03 ET by Paul GWe are the Romans while Rome burns. I'm sure there were Romans that were ....I dont know, Outraged, pissed...I dont know what words. We are screwed you know it ...I know it....BUT ROME IS BURNING!!!
Paul,I said that very
March 24, 2009 - 17:26 ET by msh1973Paul,
I said that very thing the other day; while Rome is burning Obama is dancing on Ellen's show and yukking it up on Leno. Obama cares not what is going on, he is still running his campaign!
Time for Kudlow, Kernan and Santelli...
March 24, 2009 - 16:11 ET by jawebster1to move over to Fox Business News. They are no longer welcome at CNBC with Howard Dean in charge. Cramer, you can stay put. You have earned your forgiveness. Jim Webster
Seriousness carefully mixed with frivolity
March 24, 2009 - 16:26 ET by UnsaneThe hiring of the Socialist Howard Dean was but just a preview, I fear; a harbinger of things to come.
I'll have to drift over to Fox Business a bit more, I'm afraid. Even if it means missing out on Erin Burnett's spectacular journalism. (On second thought, at least Alexis Glick does something Erin Burnett seemingly absolutely refuses to do: wear a skirt!)
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Cramer totally sold out
March 24, 2009 - 16:42 ET by timotheHis comments were actually worse than depicted in this story.
I watched Mad Money last night and practically threw myself at the TV set. I simply could not believe that Cramer would suddenly change course and back Obama's plan to regulate CEO pay.
Alas, his liberal emotions have completely gotten in the way of his intellect and hard work. It's sad, really, but I don't expect Cramer to ever say another harsh word about Obama again. His spine has been successfully removed.
"Contempt prior to investigation is ignorance."
Wow! It really did work!
March 24, 2009 - 17:09 ET by jdubyaI noticed the stitching that encircled Cramer's skull circumferentially above the brow and ears. What do you think is in that fat head now? An old reel to reel and a picture of Barry?
Cramer is a liberal who got
March 24, 2009 - 17:19 ET by msh1973Cramer is a liberal who got his underwear in a bunch, but now he is back on track with his msm buddies. Cramer's 15 minutes of fame is over.
I wonder what day CNBC took
March 24, 2009 - 18:12 ET by Chris NormanI wonder what day CNBC took Cramer to the vet or did Dr. Dean perform the surgery on the set? Did anyone notice Cramer with a cone around his head this past week?
The "Mainstream" Media: By liberals. For liberals.
Re surgery
March 24, 2009 - 19:22 ET by slickwillie2001They can do that thing with the knitting needle in the eye socket, and mess up the connection between the temporal lobes. Makes one very peaceful.
But Cramer has always been a liberal and I don't see him changing. He has always thought that Carbon cap and trade is a good idea, which indelibly marks him as a fool that puts liberalism over common sense or business acumen.
Ok, Chris, that one really did make me LOL.
March 25, 2009 - 03:40 ET by thebutlerdiditCome on, ya'll don't ya feel an itty bit sorry for old Cramer? I mean he has always been a nutbar leftie, but to have his nads removed by John Stewart? How embarassing is that? He probably did look like my chihuahua after his de-manning, with the cone on his neck. I feel sorry for his wife and children.
All a Democrat needs is the upper-story window of public attention and the chamber pot of rhetoric. How else to explain the rise of Joe Biden? P.J. O' Rourke
hilarious ...
March 24, 2009 - 19:50 ET by pmohbuckcramer gets his marbles handed to him by a comedian ... turning him into a whimpering puppy with his tail between his legs.
Jon Steward has done his
March 25, 2009 - 04:30 ET by well99Jon Steward has done his job. He has silenced a critic of Obama. Obama should pay him for the work he does. If he isn’t already. Cramer is back in the fold after being chastised by Obama's boy Steward. I wonder if Barack pats Jon on the head. He should also get a biscuit for his good work. Sit Jon, roll over, beg boy.