Partisan blogger Nick (8/6/09) has republished a new email campaign from American Rights at Work that reviews how, "just before Bear Stearns went under, CNBC's Jim Cramer had strong advice for his Mad Money viewers: buy Bear Stearns stock, and fast!"
Of course, "then the company imploded and thousands of ordinary people saw their retirement savings vanish. Oops." Nick continues:
Now Cramer is telling his viewers the Employee Free Choice Act will hurt the U.S. economy.
Cramer was wrong then, he's wrong now! But this time we know exactly what will happen if viewers listen: Millions will lose out financially.
Jim Cramer is claiming that the Employee Free Choice Act will stall the U.S. economy, even though numerous economists (including Nobel Prize winners!) and institutional investors who manage $757 billion in assets recognize that the bill is critical to rebuilding the broken economy.
Discussing on Joe Scarborough's MSNBC show the act he calls "a 'sword of Damocles' hanging over our economy," Cramer "and other guests claimed they couldn't identify a single successful unionized company."
But American Rights at Work happens to know that "GE owns both MSNBC and Jim Cramer's own employer, CNBC. And guess what? GEÃƒÆ’Â¢ÃƒÂ¢”Å¡Â¬ÃƒÂ¢”Å¾Â¢s employees are represented by unions"–and General Electric "earned more than $18 billion in profits in 2008!"
Take action by letting CNBC know that "Jim Cramer needs to stop parroting the talking points of the same greedy CEOs who got us into this economic crisis."
Also read the FAIR magazine Extra!: "For Media, 'Card Check' Promise Is One to Break: Corporate Outlets Suddenly Discover 'Workers Rights'" (February 2009) by Janine Jackson.