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Last October, I got into an argument with Jim Cramer because he asked me to remove my article about how Cramer’s company (TSCM) was a “Sell” based on the framework in Cramer’s own books (See the emails in “Sorry Cramer … We Will Not Bow Down“). If TSCM was an exception to Cramer’s iron-clad rules because late 10Qs and bailing executives somehow didn’t raise concerns like in every other case, it seems someone more important than both of us is concerned with the inner workings of TheStreet.. the SEC.

Zero Hedge has broken the not-so-surprising news that Wednesday TheStreet filed a Form 12b-25 with the SEC which presses the ultimate “Sell, Sell, Sell” button on Cramer’s circus play station:


OK, Cramer. Now, please explain to me this time why TSCM wasn’t the biggest “Sell, Sell, Sell” stock on Mad Money Wednesday night? I’ve bought all your books and been on your show, so maybe you can explain why every last bag-holder, I mean shareholder, of TSCM shouldn’t liquidate their position and move on to much brighter, less criminally investigated pastures?

As we shake our head at yet another Cramer bomb (as his bankrupt picks are affectionately called by pro traders), I leave you with a legendary piece of Cramer’s journalism (which he spins is out of context because he was talking about Bear Stearns' bank accounts rather than the stock — but “Bear Stearns is fine” means the company “is fine” for both account holders and shareholders, or at least it does to real analysts, independent researchers, and now the SEC):

Source: Sell, Sell, Sell? SEC Investigates Jim Cramer’s