Although the Morgan Stanley’s handling of the social media site’s disastrous stock offering is under scrutiny by just about every business news outlet under the sun, a Wall Street insider tells us the  investment banking’s corporate communications warriors are blaming CNBC for engaging in some pre-IPO hyping of their own. CNBC senior vice president and editor in chief Nik Deogun “is under fire,” says the source. “Morgan Stanley is telling him, ‘How dare you criticize us when you guys promoted this IPO worse than anybody.’ ” The source recalls examples of CNBC’s on-air exuberance in the days leading up to the IPO, including treating Facebook CEO Mark Zuckerberg ’s entrance at the kick-off of the company’s investors road show at the Sheraton hotel in midtown as if it were “the President’s State of the Union Address” with multiple cameras and reporters. Then on May 17, the day before the actual IPO, the hosts of CNBC’s “Fast Money” appeared on camera wearing hoodies — a reference to Zuckerberg’s favorite fashion item, which came off like an homage to the baby billionaire. That same day, controversial “Mad Money” host Jim Cramer told his viewers, who tend to be mom-and-pop investors and market-playing college students, “If you can get in on the actual IPO, then I think Facebook is a no-brainer.” He added: “We all know this one’s going to pop like crazy on its first day of trading, so if you can get in on the deal, I think you should try to get your hands on as many shares as possible.”…CNBC spokesman Brian Steel said: “CNBC’s Facebook coverage has been widely acknowledged as fair, balanced and insightful.” [NYDN, related, related]

Comments (30)

  1. Posted by notjimcramer | June 21, 2012 at 1:39 PM

    Jim Cramer told his viewers…“If you can get in on the actual IPO, then I think Facebook is a no-brainer.” He added: “We all know this one’s going to pop like crazy on its first day of trading, so if you can get in on the deal, I think you should try to get your hands on as many shares as possible.”

    [youtube o3FVBKic5Ek&feature=results_video&playnext=1&list=PL557BEE304AD80A59 http://www.youtube.com/watch?v=o3FVBKic5Ek&feature=results_video&playnext=1&list=PL557BEE304AD80A59 youtube]

  2. Posted by Fair and Balanced | June 21, 2012 at 1:49 PM

    Hey assholes, that's our tagline. Get your own.

    -Fox News

  3. Posted by PointBreakFan | June 21, 2012 at 1:51 PM

    FACEBOOK IS FINE!!!!!!!!!!!!!!!!!

  4. Posted by forehead slap | June 21, 2012 at 2:11 PM

    Not sure what's worse, that he stole Fox News tagline, or that he said something on CNBC was insightful

  5. Posted by kyle | June 21, 2012 at 2:17 PM

    I was disappointed with all of the coverage on FB, as CNBC got away from their bread and butter- focusing on Joe Kernan's golf game.

  6. Posted by LARRY | June 21, 2012 at 2:25 PM

    NEW FLASH
    CRAMER IS AN IDIOT

  7. Posted by RBS Corgi Quant | June 21, 2012 at 2:29 PM

    Please, MS claims that putting Wapner and Adami in hoodies is "hype?" Bullshit. If they really wanted to hype it up they would have had Drury and Bartiromo in bikinis poking each other.

  8. Posted by Guest | June 21, 2012 at 2:32 PM

    Hey Zucky, smell my finger!

  9. Posted by haggardporn | June 21, 2012 at 2:33 PM

    and by poking you mean?

  10. Posted by guest | June 21, 2012 at 2:38 PM

    i know cramer is a complete assclown, but did he actually say that stuff about fb being a "no brainer" and all of us knowing it was "going to pop like crazy"? good lord that guy's a disgrace.

  11. Posted by Cramer | June 21, 2012 at 2:43 PM

    your money is safe at bear stearns!

  12. Posted by pointer | June 21, 2012 at 2:44 PM

    Fool me once, shame on you
    Fool me twice, shame on you again

    - MS

  13. Posted by Puck It | June 21, 2012 at 2:52 PM

    "…Bartiromo in bikini…"

    I just threw up in my mouth.

    AIG Vomit Quant

  14. Posted by jae003 | June 21, 2012 at 3:14 PM

    Cramer is a criminal. Unfortunately, SEC is sleeping at the wheel.

    If you made an investment decision based on what "Cramer" screamed, you deserve to lose $.

  15. Posted by visualize this | June 21, 2012 at 3:25 PM

    Two words: Sue Herrera

  16. Posted by Guest | June 21, 2012 at 3:29 PM

    CNBC is as insitefull as L. Tilton is pleasant to look at.

  17. Posted by guest | June 21, 2012 at 3:31 PM

    " insitefull"? seriously?

  18. Posted by RBS Corgi Quant | June 21, 2012 at 3:34 PM

    And "Guest" has the same level of spelling aptitude that Miss Teen South Carolina has at public speaking.

  19. Posted by guest | June 21, 2012 at 3:45 PM

    Thanks for that stunning insight.

  20. Posted by LT's assistant | June 21, 2012 at 3:54 PM

    Are you talking about oral skills?

  21. Posted by Tool | June 21, 2012 at 3:54 PM

    Yeah, like a spokestool is going to say anything other than how responsible CNBC acted… why bother giving us the quote?

    CNBC is pretty much useless… it will make a good partner for Yahoo.

  22. Posted by guest | June 21, 2012 at 4:00 PM

    because even cnbc knows "insightful" is a fucking reach and it's funny. any other brain busters?

  23. Posted by guest | June 21, 2012 at 4:01 PM

    you're an idiot.

  24. Posted by pretzel logic trader | June 21, 2012 at 4:03 PM

    FAIL!

  25. Posted by pretzel logic trader | June 21, 2012 at 4:06 PM

    That's Asian for insightful

  26. Posted by HighFrequencyHater | June 21, 2012 at 4:46 PM

    Is "sleeping at the wheel" the new euphemism for jacking off to tranny porn?

  27. Posted by HighFrequencyHater | June 21, 2012 at 4:53 PM

    Did anyone else catch CNBC.com website on 5/18? The entire front page was dedicated to facebook.

  28. Posted by HighFrequencyHater | June 21, 2012 at 4:56 PM
  29. Posted by ReaganLaw | June 21, 2012 at 5:42 PM

    Yeah, you guys definitely botched that one.

    -Greece

  30. Posted by Puck It | June 21, 2012 at 6:43 PM

    Suddenly, I want to be long hydrochloric acid and short contact lens solution.