Cramer's clip quip may breach contract

Mar 21, 2007 @ 12:40 pm

By Riva Froymovich

Jim Cramer, host of CNBC’s “Mad Money,” may have broken a "disparagement clause" in his contract when he boasted about manipulating stock prices when he was a Wall Street trader, The New York Post reported.

In a webcast interview for TheStreet.com, now circulating widely on the Web, Mr. Cramer said one winning trading strategy is to spread rumors to reporters on stocks, and named CNBC correspondent Bob Pisani, who reports from the New York Stock Exchange.

Most CNBC employment contracts have a "disparagement clause" that bars employees or contractors from publicly criticizing on-air talent, unnamed sources told the Post.

Jim Cramer, host of CNBC’s “Mad Money,” may have broken a "disparagement clause" in his contract when he boasted about manipulating stock prices when he was a Wall Street trader, The New York Post reported.

In a webcast interview for TheStreet.com, now circulating widely on the Web, Mr. Cramer said one winning trading strategy is to spread rumors to reporters on stocks, and named CNBC correspondent Bob Pisani, who reports from the New York Stock Exchange.

Most CNBC employment contracts have a "disparagement clause" that bars employees or contractors from publicly criticizing on-air talent, unnamed sources told the Post.

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