FTC Chair Lina Khan Should Take Jim Cramer's 'Unhinged' Obsession as 'Badge of Honor'

A spokesperson for the American Economic Liberties Project called the CNBC host a "mouthpiece and cheerleader for monopolists across the economy."


CNBC host Jim Cramer attacks Federal Trade Commission Chair Lina Khan in November 2023.
(Photo: CNBC/YouTube/screenshot)

JESSICA CORBETT
May 14, 2024
COMMON DREAMS

The American Economic Liberties Project on Monday called outCNBC's Jim Cramer for at least dozens of "hostile" televised attacks on Federal Trade Commission Chair Lina Khan and her "historic pro-working families record."

The left-leaning group has been compiling Cramer's "most egregious on-air outbursts" over Khan since early last year and its tracker now features more than 30 clips from "Mad Money" and "Squawk on the Street."

When President Joe Biden nominated Khan to lead the FTC in 2021, she was an associate professor of law at Columbia Law School who had previously worked for the Open Markets Institute, the office of former Commissioner Rohit Chopra, and the U.S. House Judiciary Committee's Subcommittee on Antitrust, Commercial, and Administrative Law.

As the clips collected by the project show, Cramer has described Khan as an "empty suit," "stupid," and a "total hack." The ex-hedge fund manager has also compared the agency leader's views to those of Vladimir Lenin, Karl Marx, and Don Quixote.



Cramer has called out specific FTC actions under Khan—repeatedly blasting a lawsuit against Amazon, a company founded by one of the richest persons on the planet—and broadly accused the "rogue" agency of "torturing all the companies that America likes."

When one of Cramer's colleagues pointed out last October that he has taken "every opportunity to just come back to Khan," he responded, "No, I've missed opportunities and I regret that."

The tracker page states that "if Cramer was accurately reporting what the FTC is doing, he would see that Chair Khan is pursuing a pro-business, pro-innovation, and pro-worker agenda. And he is capable of it: he did, for example, proclaim the FTC's case against Kroger-Albertsons to be strong."

Noting Cramer's praise for Jonathan Kanter, an assistant attorney general at the Department of Justice whom the host has called a "heavyweight" and "rigorous thinker," the page adds that "he is so blinded by his obsession of Chair Khan that he sometimes even rails against her for suits brought by the DOJ and forgets to give the Antitrust Division credit for its work."



American Economic Liberties Project spokesperson Jimmy Wyderko said in a statement Monday that "Jim Cramer's anger over the FTC's enforcement record has turned into a full-blown obsession, launching nearly weekly barbs at Chair Khan with the zeal of a carnival barker defending his turf."

"This has manifested on national cable news through a series of unhinged, incoherent, and often inaccurate rants from Jim Cramer attacking the FTC for standing up to big corporations and delivering kitchen table wins to working families," he continued.

"Given Jim Cramer's role as mouthpiece and cheerleader for monopolists across the economy, Chair Khan should consider his harassment a badge of honor," Wyderko added. "We hope to see Jim Cramer get over his fixation syndrome, which is evidently even starting to frustrate his colleagues, as soon as he is able."