Jim Cramer: "Bear Stearns is Fine!" Tues, 3/11/08
politiclipsCited 5× on HN, 2010-2026
557K views · 18 years ago · news · evergreen
A short clip of CNBC's Jim Cramer insisting Bear Stearns is fine in March 2008, days before the firm was sold to JP Morgan for $2 a share.
Used as a joke or cautionary example of confident financial punditry that proved wrong, often referenced during bank scares and bubbles.
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5 comments from Hacker News
The top will be when Jim Cramer loudly proclaims there is no problem at Oracle and gives a buy rating. ▶ this video
Maybe not that exact phrase but it does conjure to mind the video of Cramer saying Bear Stearns was fine. ▶ this video
The fact that he still had a job after his 2008 mistake of insisting that Bear Stearns was fine and a safe place to keep your cash, is astounding. That should've been an unrecoverable mistake, especially with how strongly he was certain. "Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? No, NO, NO!!!" (Afterwards... 90% loss in the next 6 days.) ▶ this video
Somehow Jim Cramer with his infamous Bear Sterns prediction comes to mind: ▶ this video Note that Jim Cramer is still running his show.
And of course Kramer followed up nuggets of wisdom like this with "Bear Sterns is fine!" just 5 days before they were sold for $2 a share: ▶ this video I really thought his Daily Show appearance would be the beginning of the end for him, but obviously I overestimated the long-term memory of the average CNBC viewer.