Skip to comments.CNBC Guest Tells Truth, Calls Cramer Shallow, Is Yanked Off Air
Posted on 04/16/2010 8:25:27 PM PDT by george76
Any time Erin Burnett tells a guest "You will not be back, you have to be more polite than that" you know the "guest" is telling the truth, the one commodity rarely if ever discussed on General Electric's circus station.
Enter (or rather, exit) R&R Consulting's Sylvain Raynes, a structured finance expert, who at 3:10 into the clip takes on what he calls the "public relations officers" for Goldman, and asks "is it all right if I am a little critical?" Apparently the answer is no. First, Sylvain completely destroys Cramer's false "breaking news" about Goldman being long Abacus...
And the kicker "We don't have time to go into details, I want to remain shallow in deference to Mr. Cramer." At which point all hell breaks loose and the Goldman alumni just blow their collective lids. Best CNBC comedy since the Pisani-Liesman/Jeff Macke chronicles.
(Excerpt) Read more at zerohedge.com ...
Not only do I want them investigated, I want Schumer and Dodd investigated.
Geez - the same people who can snipe gratuitously at Sarah Palin or Ben Bernacke sure get their noses out of joint quick when they get a little incoming themselves........
“Erin Burnett tells a guest “You will not be back, you have to be more polite than that”
The same polite Erin Burnett who once referred to GWB as “the monkey in the middle.”
Watch the vid. Sylvain Raynes looks likes he’s at the threshold of a NyQuil nap. “These are very complex instruments ... zzzzzzzzzzz.” Although he was somewhat animate when he corrected Cramer’s mispronunciation of “abacus.” LOL
Shallow? He was also an effing manipulator when he ran his hedge fund and the SEC never did jack about it. He would whisper stories to Maria. He is a con artist.
I don’t know what these guys get out of being on these shows anyway. What’s in it for them?
A most excellent post! The comments were hysterical!
parsy, whose sides hurt from laughing
For later reading...
Bingo! Schumer and Dodd let Rome burn while they fiddled with the derivatives market for their own financial gain. History repeats itself.
More people will read this thread than watch CNBC.
The SEC alleged that John A. Paulson, founder and chairman of the hedge fund Paulson & Co. participated in a scheme in which Goldman sold subprime residential mortgage-backed securities to investors, such as foreign banks and pension funds, that were expected to lose value.
Paulson & Co. bet heavily against the value of the fund, named Abacus 2007-AC1, which included mortgage bonds it viewed as overvalued, earning millions at the expense of Goldman clients who invested in it.
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