Cramer's 'Rant'
Posted: Tuesday, August 07, 2007 2:57 PM by Noah Oppenheim
Much has now been made of Jim Cramer’s so-called “rant” on CNBC last Friday. If you haven’t already, watch it now. This is what’s known in the business as “good TV.”
Since the clip has made the rounds online, many critics have questioned whether someone with Cramer’s influence should be making such statements in such an emotive fashion. They’ve also questioned his sanity.
Cramer had an opportunity to respond this morning on TODAY. He says he’s genuinely concerned about what’s happening in the economy – particularly in the housing sector – and felt an obligation to implore the Fed to offer some prospect of relief.
In the interest of full-disclosure I should say that I worked with Cramer on the launch of “Mad Money” two years ago, and I work with him when he’s a guest on this show. He is, to say the least, a unique character who elicits strong reactions from those around him.
But, love him or hate him, the man is genuine. Unlike some on television, he is no different off-camera than he is on. He sincerely believes everything he says, and his enthusiasm is not a performance. Further, he is not and never claims to be an unbiased journalist. He’s a commentator, whose job it is to offer subjective analysis.
Who would you rather watch? A dispassionate talking head with no investment in the opinion they’re espousing? Or someone who is honest about what they think and cares deeply enough to lose their cool occasionally. I’ll take the latter every time.
Noah Oppenheim is a Senior Producer at TODAY.
