Sunday, Mar 23

Cramer: "I Was Wrong — Bear Stearns Was in Trouble"

Cramer_CNN_3.23.jpgOn CNN's Reliable Sources this morning, CNBC's Jim Cramer defended — and owned up to — his response to a Mad Money emailer's question about whether he should take his money out of Bear Stearns. Days later the investment bank collapsed. See the related story and video here. The following is a partial transcript from Reliable Sources:

CRAMER: OK. I was wrong about — Bear Stearns was in trouble. But the idea was that you are going to be safe.

Later that week I said that Bear Stearns was worthless at $37. Why would I say that the stock is worthless if I was recommending it? What mattered is that, unbelievably, the Federal Reserve did guarantee your investment over the weekend.

So, there are two issues here. Was your money safe at Bear? And that was right. And anyone who thought they should pull it out was, no, no, no.

But I said the common stock was worthless. So, I don't know. I mean, a lot of professionals thought it was a good call. A lot of people shorted (ph) Bear off of my call.


new on mediabistro.com

The Future of Social Media with Chris Anderson

The editor of Wired explains how to create a social network that works.
Watch the video

Email This Post

Fill out the following information and click on the Send button in order to send this post, Cramer: "I Was Wrong &mdash; Bear Stearns <em>Was</em> in Trouble", to a friend.
Friend's name
Friend's email address
Your name
Your email address
Note to your friend (optional, max 200 Characters)

Read more on TVNewser >

Our Blog Network

BayNewser

WebNewser

PRNewser

TVNewser

MediaJobsDaily

AgencySpy

GalleyCat

FishbowlNY

FishbowlDC

FishbowlLA

UnBeige

MobileContentToday

TVNewser Staff

Editor:
Chris Ariens

Contributors:
Gail Shister
Alissa Krinsky



Email

Twitter

About

Syndication

Anonymous Tips

  TVNewser twitter feed loading...

View twitter directly

Follow TVNewser via Twitter

TVNewser Photos


This is a Flickr badge showing public items from Mediabistro tagged with conventions. Make your own badge here.
All photos

Archives

July 2009

June 2009

May 2009

April 2009

more...


Links

Broadcasting & Cable

BuzzMachine

FTVLive

Inside Cable News

The Live Feed

Media Decoder

NewsBlues

Newslab

Romenesko

TV Barn

TV by the Numbers

TVNewsday

TVSpy Watercooler

TVWeek

Variety

Z on TV

Topics

09/11/06

2008 Conventions

2009 CES

A Year Of Katrina

ABC

About

About Us - Modules

Al Jazeera Intl

Awards & Accolades

BBC

Bird Flu

Bloomberg

CBS

CNBC

CNN

Couric Watch

Court Cases

CourtTV/truTV

Crystal Ball

Evening News Ratings

Events

Exclusives That Aren't

FNC

Foreign Correspondence

Fox Biz

Fox News Radio

Funny

Generalities

HDNet

HLN

Hurricane '07

Hurricane '08

Iraq

Morning Cable Ratings

Morning Media Menu

Morning Show Ratings

MSNBC

NAB-RTNDA 2005

NAB-RTNDA 2006

NAB-RTNDA 2008

NBC

Network Newsing

Now & Then

Obits

Olympics

Politics

Questions

Ratings

Site Announcements

State of the News Media 2005

State of the News Media 2006

State of the News Media 2007

State of the News Media 2008

State of the News Media 2009

Studies, Surveys & Research

Supreme Court

The Morning Show Wars

The Olympics

The Pope

The Revolving Door

The Ticker

Top Stories

Twitterview

WebNewser

Year in Review 2005

Year in Review 2006


Subscribe

Click here to receive the Daily Media News Feed by email.

Job Listings

Featured Listings

NewsChannel8 General Sales Manager
ABC7 WJLA-TV/NewsChannel8
Arlington, VA

Afghan Media - Subject Matter Expert - Afghanistan
Leonie Industries, LLC
major city, Afghanistan

Supervisory International Broadcaster (Spanish)
Broadcasting Board of Governors
Washington, DC

Manager, Development
WNYC Radio
New York, NY


mediabistro.com l Member Benefits l Jobs l Freelance Marketplace l Courses l Events l Forums l Content
mediabistro Blogs: Media News l TVNewser l GalleyCat l UnBeige l FishbowlNY l FishbowlLA l FishbowlDC l PRNewser l AgencySpy
MobileContentToday l WebNewser l BayNewser l MediaJobsDaily l mbToolbox
Site Map l Advertising/Sponsorships l Partners l About Us l Contact Us/Help

internet.commediabistro.comJusttechjobs.comGraphics.com

Search:

WebMediaBrands Corporate Info

Legal Notices, Licensing, Reprints, Permissions, Privacy Policy.
Advertise | Newsletters | Shopping | E-mail Offers