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 ( dealbook.blogs.nytimes.com ). 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 US investment bank, which employs more than 14000 people, hit a record high of more than $171 in January 2007. …” www.forbes.com
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Tags: Bear Stearns, Forbes, Stock
July 11th, 2010 at 3:44 pm
What made Crammer’s advice so bad was that he gave advice based on the stock chart and that it would be bailed out. He never considered that at what price it would be bailed out at or bought at and more importantly he never considered the amount of losses bear was on the hook for due to the sub-prime collapse. What Crammer said in essence was like a person saying to stay on the titanic after it was clear that it was starting to sink.
July 11th, 2010 at 8:15 pm
If anyone trusted Crammer and held on the Bear Stern, the slogan should be “In Crammer we lost”.
July 14th, 2010 at 10:28 pm
It was Wall Street that helped to fund most of the corporations who make the products you enjoy today.
July 17th, 2010 at 5:36 pm
……DIE WALL STREET PARASITES.
July 20th, 2010 at 5:20 am
Jim Cramer is a legend!
July 21st, 2010 at 8:00 am
OTC Gold and Silver (leasing) contracts and certificates are a fraud
Comex and LBME won’t be able to satisfy physical gold and silver delivery
They will use an escape clause called a “Force Majeure” to withhold physical
delivery if that was demanded from their paper gold (contract) holders
Physically holding gold and silver bullion in your possession is crucial
Past 10 years: S&P down 24%, Ndx down 49%, Dji down 31%, U$D down 23%
Gold up 280%, Silver up 209%. (source: Jesse’s Cafe Americaine)
July 23rd, 2010 at 6:27 am
LOL!!! six days later!!!!
July 26th, 2010 at 5:35 am
I profit ALL THE TIME on Cramer’s picks, the trick is, to Short all his picks :p lol!
July 27th, 2010 at 4:53 am
CRAMER IS A PRICK
July 27th, 2010 at 8:44 am
the BIPARTISAN ANGELIDES THOMAS COMMISSION,,,,,THE 2 STOOGES…….INVESTIGATING THE WALL STREET FAT RATS…………IS AN INSULT TO THE AMERICAN PEOPLE. they are not funny at our expense.
July 27th, 2010 at 11:49 pm
Re: BOA
I Moved my money to a great Credit Union (Member of FDIC, An HONEST Credit Car I’m saving money on fees and credit card charges, making a little interest and most gratifying - Getting Revenge !! They don’t care about my account but they sure as hell care about “Our Accounts” Make them listen.
July 29th, 2010 at 1:09 pm
in cramer we trust! wait should we? no way jon stewert was right
July 31st, 2010 at 11:44 am
Can’t believe people still watch his show.
August 3rd, 2010 at 1:02 pm
fuck jim cramer. bear stearnswas bankrupt, bitch
August 4th, 2010 at 6:34 pm
damn, poor Peter :/ I almost feel sorry for the guy, lol
How is Cramer gonna say Bear was doing ok when the graph that was just shown showed their stock going down? That’s an indictor right there..
August 6th, 2010 at 9:23 am
Hey Peter, I’ve got a McMansion to sell you too
August 8th, 2010 at 9:41 am
It’s absolutely disgraceful that this jive *** turkey still has a job!!!
August 11th, 2010 at 12:06 pm
I hope you have those precious metals in hand and not some paper cert. saying you do. I hear thats another ponzi scheme they pull. Something about gold being oversold..?!?!
August 17th, 2010 at 9:52 pm
THE WALL STREET PARASITES AND PIGS THAT CAN’T EARN A LIVING WITHOUT ZERO AND ONE PERCENT FED RATES ARE HISSING AND SQUEALING OVER THE fed guessers raising the rates a mere fraction next year,,,,,THESE PEOPLE ARE THE LEPERS OF THE UNIVERSE, living off widows and orphans nest eggs….big macho sissies like jim cramer et al………..
August 20th, 2010 at 3:04 pm
stock brokers who can be right in a bear market is rare. took me only 1 bear market to see the signs, and now I think bear markets are easier than bull markets.
August 23rd, 2010 at 11:46 pm
every investor makes mistakes. besides, there’s a disclaimer during the show.
August 25th, 2010 at 10:09 am
For doing this show, Jim Kramer should be in prison. It should be illegal for these idiots to go on television and lie or mislead the american people.
August 27th, 2010 at 6:53 pm
that poor guy Peter! I hope he sold and got his money out. But he may have been one of the ones that took cramers advice. And then ended up killing themself. It would be an extreme to call cramer a murder, but a scumbag who should be in jail is accurate