Gibbs Questions Jim Cramer’s Credibility

By Caitlin Taylor

Mar 4, 2009 9:05am

White House press secretary Robert Gibbs was invited to weigh in on yet another CNBC personality yesterday.

An NBC correspondent (natch) asked Gibbs about CNBC’s Jim Cramer, who has recently assailed President Obama for pushing "a radical agenda" that "put a level of fear in this country that I have not seen ever in my life."

Mr. Gibbs’ digs were less incendiary than the ones he took at Mr. Santelli on February 20, but they were there — "if you turn on a certain program it’s geared to a very small audience — no offense to my good friends or friend at CNBC," Gibbs said, "but the President has to look out for the broader economy and for the broader population."

More vaguely, Gibbs did suggest that Cramer’s track record is not one that should bring instant credibility, saying he doesn’t understand "the basis for what Mr. Cramer said, I’m not entirely sure what he’s pointing to to make some of the statements that he’s made. I think you can go back and look at any number of statements that he’s made in the past about the economy and where some of the backup for those are, too."

Past statements by Jim Cramer? What could Gibbs be talking about?

Well, his 2007 comments about subprime lending — "if every loan in 2006 that was subprime blew up…we would still not notice."

Or his legendary proclamation "Bears Stearns is fine."

This is not my fight; but this is what Gibbs was referring to.

- jpt

You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus