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 a ahare, down from a high of 1 just over a year ago ( dealbook.blogs.nytimes.com ). This just 5 days before Bear Stearns sold to JP Morgan for a share, in a Fed brokered bailout. Reuters (03.16.08): “Bear’s stock closed on Friday at .85, valuing it at .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 1 in January 2007. …” www.forbes.com
Video Rating: 4 / 5