No, no, no, I didn't mean that... do you want me to cause a run on a bank?!

[Verrocchio]

In this YouTube clip, Jim Cramer claims that when he said "No, no, no, Bear Stearns is not in trouble... ...don't move your money from Bear..." he was referring to cash, not Bear common stock. Now I get it!

[FRED]

Re: No, no, no, I didn't mean that... do you want me to cause a run on a bank?!

In this YouTube clip, Jim Cramer claims that when he said "No, no, no, Bear Stearns is not in trouble... ...don't move your money from Bear..." he was referring to cash, not Bear common stock. Now I get it!

He really does have truthfulness issues, doesn't he.

[grapejelly]

Re: No, no, no, I didn't mean that... do you want me to cause a run on a bank?!

"I think the common on most of the large banks is worthless."

He is saying that the large banks are worthless -- I think he means "insolvent" -- and that the Fed will bail them all out.

Sounds truthful to me.


As far as Fannie and Freddie, he is saying the Fed should buy two hundred billion of their paper for now.

Well, they just might.

[Verrocchio]

Re: No, no, no, I didn't mean that... do you want me to cause a run on a bank?!

"I think the common on most of the large banks is worthless."

He is saying that the large banks are worthless -- I think he means "insolvent" -- and that the Fed will bail them all out.

Sounds truthful to me.


As far as Fannie and Freddie, he is saying the Fed should buy two hundred billion of their paper for now.

Well, they just might.

Right, but here's the point of this post. On Tuesday of the week that Bear Stearns went to $2, in response to a concerned listener who wrote in for his advice, Cramer exclaimed "Don't move your money from Bear... That's must being silly. Don't be silly!" At the time Bear Stearns was trading at 63 or 64.

Mega posted a message with a link to a YouTube video that contains Cramer's Tuesday performance and here's the direct link to YouTube.