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

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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/re
uters/feeds/reuters/2008/03/16/2008-03-17T021331Z_01_N16710089_RTRIDST_0_BEARSTEARNS-JPMORGAN-DEAL-UPDATE-2.html

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The Financial ... ( 1 week ago by HRMOKeefe)

The Financial Crisis explained in one sentence:
Community Activism (Community Redevelopment Act of 1977 and 1995 revisions ; forces banks to loan money to non qualified buyers) meets Government Fiat (Oxley Sarbanes Act of 2002 which forces the banks and insurance companies to price their portfolios at the market every quarter, thanks to Enron)
equals Financial Crisis The Financial Crisis explained in one sentence, only remaining question is; was it un- intended?

The donk was wrong ... ( 1 week ago by bagoona)

The donk was wrong on Wachovia too. Hold him accountable

Bear wanted to sell ... ( 1 week ago by Bertvandijken)

Bear wanted to sell CDS's they posessed at a low rate, to get liquidity. The problem then was that JP Morgan who had much more of these CDS's, had to devalue the these equity to the market price set by Bear Stearns . Then JP Morgan would have gone bankrupt.

Why would anyone ... ( 1 week ago by N172ER)

Why would anyone listen to this tool?! If he was such a great stock-picker, why is he on TV and not sitting back making millions from trading the market?

CNBC's Jim Cramer ... ( 1 week ago by nesnman)

CNBC's Jim Cramer made an on-air apology last night for recommending Wachovia stock just two weeks ago. The recommendation followed an appearance by the bank's CEO Robert Steel. On Sept. 15, the day Steel appeared on the Mad Money, Wachovia stock closed at $10.71/share. Yesterday it closed at $1.84/share.

Did anyone notice ... ( 1 week ago by silentonall)

Did anyone notice between 0:20 & 0:22, Kramer said ...., "more then likely they'll be taken over...." He's covered here.....

i liked cramer when ... ( 1 week ago by halburd1)

i liked cramer when he first appeared because he seemed to be after the big corporate CEO's and their greedy ways. But it was just all an act to get half popular after he got some following then he turned into just another douche like the rest of them. it took me 4 to 6 months to recognized this about 4 years ago. now the rest of the public can see his act is just a show and dance with no substance. lol

there is an old ... ( 1 week ago by halburd1)

there is an old saying for a guy like cramer. he's just a "Blowhard" he'll huff and puff till he blows your financial house down.

Jim Cramer for us ... ( 5 days ago by attie3)

Jim Cramer for us secretary of the treasury
or Chairman of the Federal Reserve

Make sure you got ... ( 5 days ago by dogcow666)

Make sure you got your tinfoil hat strapped on good and tight

LOL @ Jim Cramer / ... ( 5 days ago by 246ent)

LOL @ Jim Cramer /watch?v=hkgZgNKV14U

Hey, even a broken ... ( 5 days ago by jci10)

Hey, even a broken watch is correct twice a day....

He was talking ... ( 4 days ago by dschriber)

He was talking about taking his personal savings/checking account. All of which is insured by the FDIC. You need to fact check before posting such garbage. The email read "in terms of LIQUIDITY." Educate yourself. The only "Ass" here is the guy who posted this.

it doesn't matter.. ... ( 3 days ago by jazzpsalti)

it doesn't matter... he said they weren't in trouble, and they plunged.

Not if it's digital! ( 3 days ago by vaughanweather)

Not if it's digital!

You can always ... ( 3 days ago by joecugo)

You can always trust a jew.

youtube keeps ... ( 3 days ago by 950514)

youtube keeps deleting all my videos can anyone help?

NO!! NO!! NO!! ... ( 3 days ago by bikersrule07)

NO!! NO!! NO!! those words will go down in hitory

No, he said they ... ( 3 days ago by TheRudeNews)

No, he said they would be taken over, and they were.
He didn't expect everybody to run on the banks.

Protip: Whenever a ... ( 3 days ago by emilyek1)

Protip: Whenever a talking head (or perhaps even your 401k manager or broker) tells you to stay in the market, you'd better get the fuck out. It's like a doctor telling a terminal patient that everything will be OK. They need their suckers to keep it all afloat.

Like dschriber said ... ( 2 days ago by acidburncool)

Like dschriber said, the email said "In terms of liquidity" meaning "should money be drawn out from brokerage accounts" not "Bear Sterns stock is fine" and money held in brokerage accounts is insured by the government, so its fine .. ignorant douche boxes

Because you are are ... ( 1 day ago by Nickthetoast)

Because you are are a prostitute...

Oh well he bought ... ( 1 day ago by spadgm)

Oh well he bought them another six days ,if he said pull your money out Bear would have been toast by midday the next day!

That's a pretty big ... ( 8 hours ago by Joe402)

That's a pretty big boner to pull.

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