8 Dumbest Things We Heard This Decade: 'Bear Stearns Is Fine!'
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'Bear Stearns is fine!' |
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WHO? Jim Cramer, financial analyst and CNBC host HE SAID WHAT? “Bear Stearns is fine! Do not take your money out.” WHEN? March 11, 2008 OOPS! Shares of Bear Stearns were at $62.97 at the time; within the week, the government arranged for a “shotgun wedding to JP Morgan,” which scooped up shares for just $10 apiece, wiping out billions of dollars in shareholder value. “I got a lot of things wrong,” Cramer said as a guest on Jon Stewart’s “Daily Show” a year later.
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