Jim Cramer

Bear Stearns was not in trouble and would not fail (said March 11, 2008).

“Bear Stearns is not in trouble. It's more likely to be taken over.”

Said on

11 March 2008 · Mad Money, CNBC (answering a viewer question)

Source

Let Cramer Make This Perfect C... · Columbia Journalism Review

Should come true

No date given

How sure they sounded

No, no, no ... not in trouble

Categories

BankingMarkets

Importance

3 of 5 · Bear Stearns' collapse days later was a major event in the U.S. financial crisis.

Outcome

Inaccurate Happened 16 March 2008.

Days later Bear Stearns suffered a liquidity run and needed emergency Fed-backed funding. On March 16, 2008 it agreed to a fire-sale takeover by JPMorgan at $2 a share (later raised to $10). A takeover did happen, but only because the firm was in severe trouble, which is the opposite of what he claimed.

Evidence:

• https://en.wikipedia.org/wiki/Bear_Stearns
• https://www.cjr.org/the_audit/let_cramer_make_this_perfect_c.php