Henry Blodget called out his nemesis-of-late, Jim Cramer, about Cramer's recent seeming endorsement of questionable (and potentially illegal) trading practices that hedge fund managers should be using to help their clients outperform the market, or at least, at the close of last year when he did the interview, make up for lost dough.

Widespread outrage at the video (which was recently pulled down from YouTube.com but is apparently still available at TheStreet.com) calls into question Cramer's brand reputation as trying to help the little guy - instead talking out of both sides of his mouth advocating the big hedge funds to manipulate share prices in order to cash in. If it's any indication of how most readers found the story, the comment below leads me to believe the investing public is pretty angry:

Perhaps Eliot Spitzer should have investigated this type of activity too while he was Atty General. Except that he's a good friend of Cramer, invested in his hedge fund, and thus profited from these activities. Oh well, nevermind, guess that's why he spent so much time picking on Dick Grasso instead - just hoping we would all forget about he and Mr. Cramer's relationship.

Interestingly, while looking at that NYTimes recap, I found the following video and, now that I can post YouTube videos here, thought I'd share it with you about another scandal brewing on Wall Street. Browse below.