R&R principal Sylvain Raynes is deemed insufficiently polite in a tussle with Jim Cramer over the SEC’s fraud charges against Goldman Sachs. People who don’t have a problem with that may enjoy this clip on Youtube.
UPDATE: Bloggers weigh in on Raynes vs Cramer:
Trader Mark on Fund My Mutual Fund: “Who is Sylvain Raynes and How Did He Make It on CNBC?”
Tyler Durden on ZeroHedge: “CNBC Guest Tells Truth, Calls Cramer Shallow, is Yanked Off Air”
Wall Street Manna: “I want to remain shallow, in deference to Mr. Cramer”
Quantnet: “Sylvain Raynes, tells truth on CNBC show, is yanked off air”
Firedoglake: “Jim Cramer vs Sylvain Raynes, who is Mr. Raynes?”
Steve Krakauer on Mediaite: “CNBC Guest Calls Jim Cramer ‘Public Relations Officer’ for Goldman Sachs”
Bess Levin on Dealbreaker: “New Rules for Appearing on CNBC” (interesting photo included)
The Reasoned Sceptic: “Teflon Cramer on CNBC This Afternoon”
Chris Ariens on Mediabistro: “CNBC Boots Guest for Not Being ‘Polite’”
Joe Weisenthal on Clusterstock: “CNBC Guest Flip Out, Calls Cramer Goldman Sachs’ PR Man”
The Daily Beast, “Guest Insults Jim Cramer, Gets Booted from CNBC”
John Hudson on The AtlanticWire: “Happy Hour Vid: Jim Cramer Bashed for Being ‘Goldman Public Relations Officer‘”
12 Comments
Not bad for an academic, Sylvain. Wouldn’t you like to know what companies originated the RMBS referenced in ABACUS? Of course, that probably wouldn’t fly on CNBC.
Awesome. Way to stand up to that blowhard!
brilliant performance mr. raynes. made my day. i really wish you’d had time to get into specifics – obviously something the goldman PR team could never allow
Well done. Cramer was insulting all of us and so you were justified in insulting him.
I write a column for Reuters and the IHT. Please add me to your distribution list if you have one.
many thanks
Jim Saft
I’ve never seen so much truth crammed into two minutes on CNBC. You need your own show.
Dear Mr. Raynes,
What a courageous interview. You reminded me of Rosa Parks who said I’m not going to sit at the back of the bus anymore. Although you were kicked off the bus, it gave us all a great look into what happens when the tables are turned. Too often no one wants to ask the really hard questions. Maybe if we asked the hard questions and didn’t slam doors like an angry child we wouldn’t be in this mess to begin with. Jim’s behavior is not that surprising at all since he’s loves telling all this viewers that “I’m not here to make friends, I’m here to make money.” It is the same mentality at his prior employer and now accused fraudster Goldman.
You know, it will be interesting to see how Warren Buffet reacts to this. He once said “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently”.
Unfortunately Goldman is too big to fail (still) so no matter what they will be around. Hopefully the goverment or smarter minds can come up with away to put them in a penalty box of some sort and start to dismantle this casino mentality on Wall Street.
I want to say that you were very brave today and if you look at other message boards I would say that people are in support of you 100 percent. Don’t stop now, you have an army of people supporting you!!!
Thank you.
I don’t think people realize(d) the issue here, including Cramer and Raynes.
The issue isn’t who made money off of what or who. If everyone here bothered to read into the SEC statement a little bit, they would find the allegation is simply that Goldman did not disclose that Paulson had a hand in picking the underline collateral.
Raynes:
Congrats on becoming an overnight superstar on the blogosphere, where well-read people roam day and night to intelligently speak on topics they well understand. Judging from the number of links you bothered putting on this website about the “Raynes vs Cramer” issue, I can imagine how much your ego has been fed in the last two days.
From the video, it is quite easy to see that your arrogance is just as bloated as Cramer’s. Your tone and expressions reek of pure vanity. Please take a page out of Buffett’s book. Humility is a good thing.
I encourage everyone to do their own research and come to their own conclusions about this specific issue (and other investment decisions, etc). If people can learn anything from this GS debacle, it is to trust your own judgment.
Cheers
Sylvain:
You made some really good points.. but they were mostly lost in the noise.
While your perspective was smart, and entertaining.. I’m not sure it was EFFECTIVE.
Thank you Mr Raynes.
Methinks Mr Cramer doth protest too much. How he reacted was quite amusing. It must have been a difficult thing for you to do.
Bon chance
Thanks for that witty mocking of that fraud, who is nothing short of an pseudointellectual prostitute. He lost so many people so much money knowingly.
I am happy that I was not one of them. Nobody in any serious wealth management firm trusts CNBC for anything more than financial infotainment.
S
And now Cramer changes his tune…. I mean, is this the same guy that flipped out on you? Is he bipolar?
http://www.zerohedge.com/article/cramer-changes-tune-goldman-says-charge-not-frivolous-and-firm-will-have-settle-or-pay-2-3-b
Thank you for being sensible during you interview. CNBC, while trying to give unbias news, failed miserably. You are not the first to be put off. I have seen other guest interupted and time cut short because they went against staus quo. Once again, thank you….