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Guest Thrown Off Live TV Show For Calling CNBC Hosts "Public Relations Officers" For Goldman Sachs

By Reggie Abaca, Published: April 17th, 2010 9:12 PM CDT

It was as if a security breach had occurred at CNBC.  A first time guest to the show by the name of Sylvain Raynes, author of The Analysis of Structured Securities and an upcoming title, The Elements of Structured Finance, was bullied and thrown off a program after he broke some kind of previously unknown rule of not bringing up CNBC ties with Goldman Sachs (NYSE:GS).  The altercation, which is now posted on YouTube, involved Erin Burnett, Jim Cramer, David Faber and Mr. Raynes:

Raynes: "Yes, thank you Erin, I’m pleased to be on this show since most of your previous guests were public relations officers for Goldman.  Is it ok if I'm a little critical?"

[Burnett and Cramer both interrupt together]

Cramer: "I don’t like to hear that! I’ve blasted Goldman many times, I don’t need to hear that nonsense."

Burnett:  I think people would take issue with that.

Raynes: "Mr Cramer, I would like to remind you that the word is Abacus not Abaackus.  Now, I would like to answer the question Erin, is that Ok?"

[Burnett and Cramer again both interrupt together]

Cramer: "Not if you make a charge like that, no!  That implies that I take money from Goldman Sachs.  I resent that!"Burnett: "Uh, yes, but please refrain from making any personal allegations about people on the show; if you could refrain from that."

Raynes: Mr. Cramer, Mr. Cramer, please let me answer you've had your chance.

Cramer:"Take back your charge that I took money and I will."

At this point Raynes closed his eyes as if looking for how to respond to Cramer's bullying censorship threat.  He may have been flustered because he never stated that Cramer took money from Goldman Sachs.  Cramer injected that accusation on himself.  Burnett then jumped in and allowed Raynes to continue, despite Cramer's threat, but later Raynes could not resist:

Raynes: "...we don’t have time to go into details, I want to remain shallow in deference to Mr Cramer."

[Burnett and Cramer again both interrupt together]

Burnett: "hey hey hey hey hey hey hey, hey, I asked you to please not say derogatory things about my colleagues.  You can't say that on this show, Sylvain."

Cramer: "What’s this ad hominem nonsense, come on partner.  Don't give me that ad hominem nonsense, I wasn't knocking you."

Burnett: "We’re gonna take a brief break here, we'll be back in just a second. Sylvain will not be with us. Sylvain you gotta be more polite than that."

The irony was that Sylvain Raynes had a mild manner that came off as exceedingly polite while Burnett and Cramer appeared highly confrontational and defensive.  Perhaps it's because Burnett and Cramer are both former employees of Goldman Sachs.

Related: GS

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