CNBC's Jim Cramer: Equifax CEO "should be fired today"

Equifax Inc., offices in Atlanta. Photo: Mike Stewart/AP.

CNBC Mad Money host Jim Cramer said today that Equifax CEO Richard Smith should be fired after the huge data breach last week:

  • "What does it take to get fired in this country? I mean this was, you blame it on them, you blame it on the offensive line, you're the head coach. Honestly, he should be fired."
  • Why it matters: The breach could affect as many as 143 million American citizens, and 40 states have begun investigating the incident, according to CNBC. Smith is testifying on October 3 before a House panel. Rep. Greg Walden and Rep. Bob Latta said they looked forward to hearing from Smith, as the breach "has raised serious questions about the security of consumers' personal information."
  • One more thing: Smith said in a USA Today op-ed the breach was "the most humbling moment in [Equifax's] 118-year history."

Go deeper

Dan Primack, author of Pro Rata
13 mins ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

Go deeper (1 min. read)Arrow
Shane Savitsky
1 hour ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

Go deeper (1 min. read)Arrow
Courtenay Brown, Felix Salmon
Updated 2 hours ago - Economy & Business

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Go deeper (2 min. read)Arrow