Jim Cramer: Bear Stearns is Fine! Tues, 3/11/08

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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 $60 a ahare, down from a high of $171 just over a year ago ( http://dealbook.blogs.nytimes.com/2008/03/14/bear-stearns-week-from-hell/ ). This just 5 days before Bear Stearns sold to JP Morgan for $2 a share, in a Fed brokered bailout. Reuters (03.16.08): "Bear's stock closed on Friday at $30.85, valuing it at $3.5 billion, after tumbling 46 percent that day. Shares in the fifth largest U.S. investment bank, which employs more than 14,000 people, hit a record high of more than $171 in January 2007. ..." http://www.forbes.com/reuters/feeds/reuters/2008/03/16/2008-03-17T021331Z_01_N16710089_RTRIDST_0_BEARSTEARNS-JPMORGAN-DEAL-UPDATE-2.html

Category: News
Uploaded: March 17th, 2008 @ 3:32 pm
Author: politiclips

Length: 01:34
Rating: Whole StarWhole StarWhole StarWhole StarHalf Star
Views: 180,210

Tags: $2 bailout bankruptcy bear cnbc cramer cuzimjustabill jim jp morgan politiclips stearns

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