Oh Snap

CNBC’s Jim Cramer Thinks Wall Street Is Using Snapchat For Insider Trading

The U.S. government doesn't know what Snapchat is.
Sane Cramer. (Photo: Wikipedia)

Sane Cramer. (Photo: Wikipedia)

Last month, we heard rumblings that Wall Street banker bros were using Snapchat to send “weird shit” (that’s a neat way to describe “dick pics'”), but permanently aggravated CNBC host Jim Cramer thinks it’s being used for something more sinister.

At the Delivering Alpha conference yesterday, Mr. Cramer told U.S. Attorney Preet Bharara that he thinks bankers are using the ephemeral app for insider trading. Newser writes:

“My daughter and I Snapchat. OK, it disappears in three seconds,” Cramer said. “Can the bad guys Snapchat, ‘Go buy Leap Wireless’ at 3:45 on Friday and get away with it, because you don’t have the technology to stop it?”

Bharara: “I don’t even know what you’re talking about. Have your daughter call me.”

Way to out everyone, Jim! And now that Mr. Bharara knows what Snapchat is, he told bankers they shouldn’t get too comfortable with it since they’ll get caught “no matter what method of communication” is used.

Maybe it’s better to stick to casual sexism, bros.

(Via New York Magazine)

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