The indictment of SAC Capital is generating ripples across Wall Street. Cramer doesn't like it - not one bit.
SAC, a hedge fund operated by billionaire investor Steven A. Cohen has been indicted on criminal charges for its role in insider trading, allegedly carried out from 1999 through at least 2010.
According to prosecutors, money managers as well as others at the firm "engaged in a pattern of obtaining inside information from dozens of publicly traded companies across multiple industry sectors."
"In my view, the indictment means that if you were buying or selling those stocks, you were an uninformed dope next to the guys at SAC," Cramer said.
In essence those big money pros were playing you.
Although prosecutors are seeking to recover some of the alleged ill-gotten gains, that does nothing for individual investors who traded the market in good faith, yet at a disadvantage.
And that makes Cramer angry.