Cramer: “Mistakes Were Made”

Tuesday’s NY Post revealed that Jim Cramer “boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal” in a webcast for TheStreet.com.

This morning, a “contrite and nervous sounding Cramer told MSNBC’s Don Imus that ‘mistakes were made’ when he appeared” on the webcast, according to Corporate Crime Reporter.

Quotes from Cramer: “I have to either shut up or get better at telling what I did or didn’t do. I didn’t do a good job at distinguishing between the two.”

So did he break the law? “I was saying — I have to show you the scams that other people do. I have to show you how Wall Street really works. I didn’t say it right. I have to get better at saying it. I did not do the stuff. But I didn’t say it right.”

He says he “ran a clean shop” and he “tried not to be a bad guy.” He also apologized for insulting Bob Pisani. Here are the details…

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