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CNBC Guest Calls Jim Cramer “Public Relations Officer” For Goldman Sachs

video
» 9 comments

The Goldman Sachs fraud lawsuit news today has the business news networks becoming must-see TV – and not just for the occasional curse word that slips out on-air.

Today during Jim Cramer‘s segment on CNBC’s Street Signs with Erin Burnett, guest Sylvain Raynes from R&R Consulting went after Cramer – and Cramer fired back.

After Cramer seemed to defend Goldman Sachs, or at least appear skeptical of their wrongdoing, Raynes got his chance to weigh in. “I’m pleased to be on this show, since most of your previous guests were public relations officers for Goldman,” he said. “Is it ok if I’m a little critical?”

The shot at Cramer garnered an immediate response from the Mad Money host. “I don’t like to hear that,” he said. “I’ve blasted Goldman many times I don’t need to hear that nonsense.”

After some more back-and-forth, Raynes continued in his mild-mannered takedown. “I want to remain shallow in deference to Mr. Cramer,” he said at the end of his answer, with Burnett cutting in and interrupting. Before cutting to commercial, she said, “Sylvain will not be with us. Sylvain you’ve got to be more polite than that.”

Here’s the video:

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  • valkyrie101

    Does any industry beg to be regulated more than the securities industry? But of course the securities industry does not like regulation, since being held accountable can be both embarassing, and costly. Thus, they use the paid corporate spokespeople, like Cramer, to shill for the industry.

  • bucknaked

    i can’t get the video to work

  • DCopperfield

    Oh brother. Burnett and Cramer both worked at Goldman Sachs. They had no business cutting that gentleman off. It seems rather incestuous between CNBC and the big money of Wall Street.

    I now wonder if Charlie Gasparino was let go because he rubbed the insiders the wrong way.

  • http://www.facebook.com/people/Bill-Adkins/1585417987 Bill Adkins

    This was great!! Goldman Sachs’ waterboys like Santelli and Cramer and a lot of CNBC called complicit. Sylvain Raynes!!!!

  • TKowalski

    I don’t really get the bigger picture. Why is Cramer so interesting, isn’t that guy just a joke who has no idea what drives stock prices or have I been watching the wrong videos with him?

    I honestly don’t think Sylvain Raynes was so offensive that he needed to be taken of the screen.

  • singleinvestor

    Swimming in shallow waters with CNBC mouthpieces was an appropriate remark by Mr. Raynes.While I have been an avid viewer of CNBC I was appalled @ host Erin Burnett arrogance @ cutting of Mr.Raynes who was in a debate with a stacked 3 against 1 contrarian view. Obviously there was no intent on allowing their guest the common courtesy of rebuttal just a brutal censoring of an adverse opinion. Shame on Miss.Burnett ,who has been impolite on many occasions in the past and when called upon it by her own co-host Mr.Haynes,would sarcastically reply:(“I’m just saying ,I’m just saying haha.)” Now I will b saying so long CNBC and hello Bloomberg News”.!! Cnbc owes an apology to it’s viewers 4 this outrageous censoring done by by their obviously biased staff. Like Goldman CNBC has tarnished their reputation ,in my humble opinion.!!

  • ietalon

    After the first 20 seconds of the CNBC special rebuttal of the S.E.C charges against Goldman Sachs for fraud, it was obvious that the “Pretty Women and Kramer Show” were disseminating the new “official public opinion that shall prevail throughout the land.” “let it snow, let it snow, let it snow.”

    The earlier CNBC video with Jim Cramer, Erin Burnett, and special guest Mr. Sylvain Raynes from R&R Consulting was a breath of fresh air. It was obvious that Mr. Raynes had not been indoctrinated in the ‘officially excepted rhetoric’, acceptable to be spoken in the presents of the unwashed masses.
    I was shocked to hear the emperior was naked, shocked!

    Mr. Raynes, now elevated to the level of cult hero, will enjoy the shared privilege with Goldman Sachs and J P Morgan employees of never being able to walk the streets of America again, without being swarmed by crowns of people. The crowds will respond differently to first their hero, Mr. Raynes and second to the GS & JPM employees, looked upon as ethic-less. pariah and social outcast.

    As isolated as CNBC is from the public they ‘a hum,’ serve; they should still hear and have empathy for the collective anger. The fraud and the gross manipulation of the markets as perpetrated by these banksters will be rewarded, one way or another, just as history has shown similar actions were rewarded in the past.
    Mr. Raynes comments prove, there is always the possibility of some thread of truth arriving even to these elite channels of “news”.

  • OneCitizenSpeaking

    Amazing how many pundits use so many words to spin their nonsense. These were big boys, well-financed and able to do their own due dilligence. Goldman was acting as a brokerage and not as a fiduciary. No need for further disclosure or discussion. When trades go wrong, traders go legal — as the night follows the day — to be able to tell their investors “we was robbed.” And the game continues. Your job is to be smarter, more well-capitalized, tougher and more well-connected than the opposition. You have opinion letters covering your backside and can always pay the fine as a cost of doing business .. and neither admit or deny the allegations. Welcome to the real world.

  • http://www.facebook.com/people/Andy-Nguyen/594119737 Andy Nguyen

    More interesting read about Sylvain Raynes background and his other essays
    http://www.quantnet.com/sylvain-raynes-v-jim-cramer

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