Jim Cramer: "Bear Stearns is Fine!" Tues, 3/11/08

CNBC's Jim Cramer screams that "Bear Stearns is fine!" and "NO! NO! NO!" ... "Bear Stearns is not in trouble" ... "Don't move your money from Bear! That's just silly! Don't be silly!" to investors while Bear Stearns was still trading at over $60 a ahare, down from a high of $171 just over a year ago ( http://dealbook.blogs.nytimes.com/2008/03/14/bear-stearns-week-from-hell/ ). This just 5 days before Bear Stearns sold to JP Morgan for $2 a share, in a Fed brokered bailout.




Reuters (03.16.08): "Bear's stock closed on Friday at $30.85, valuing it at $3.5 billion, after tumbling 46 percent that day. Shares in the fifth largest U.S. investment bank, which employs more than 14,000 people, hit a record high of more than $171 in January 2007. ..."
http://www.forbes.com/reuters/feeds/reuters/2008/03/16/2008-03-17T021331Z_01_...

Category:

News & Politics

Tags:

• Jim
• Cramer
• Bear
• Stearns
• CNBC
• JP
• Morgan
• $2
• bailout
• bankruptcy
• politiclips
• cuzimjustabill

[luke55664]

The only thing disturbing about this post is that Cramer is still on the air.

[tedsalad]

Jim Cramer is a used car salesman.

[ANSGroupLLC]

The question was if he should get his money out in terms of liquidity. He was talking about his Bear account. People are attacking him because they aren't knowledgeable about financial terminology, anyone who understands what Bear Sterns is (an investment bank) understood what that question meant and what he was saying. Dont attack Cramer for something as dumb as not understanding the terminology.

[bioman123]

Cramer did make these statements about Bear, but he claims he was saying not to take your money out of Bear accounts--NOT the stock. Seems a little weak to me.

I'll give credit to Cramer though for calling the top and bottom during the crisis. That more than makes up for this Bar Stearns shit.

[staidenofanarchy]

Is it just me or does it seem like this was edited to make a false accusation? I feel like Cramer was being sarcastic or something. If I were to see a full clip, I would form an opinion, but this to me seems like Cramer was cheated a little bit.

[spacetoilet]

Turn OFF the capslock you ignorant sheeple, dopes.

[hot2warm]

@tedsalad Don't give used car salesmen a bad name

[thegizmoguy1]

And take note...Wells Fargo didn't take a single dime in bailout money.

[catalinaguerrero]

what kind of retard would take advice from an idiot like cramer?

[heartabobby]

I think Cramer knows how influential he is and how many viewers watch his show. Maybe he just tried to prevent any sort of self-fulfilling prophecy. In the end that's exactly what happened when Moody's announced Bear's downgrade. Investors got scared, repo loans were out of the question. Without any form of liquidity Bear Stearns was bound to default! This is just my opinion. Maybe you guys are right and Cramer simply is stupid! :)

[sysopkc]

@luke55664 HA! he got a promotion, hes on more now!