Tensions Explode On CNBC, As Simon Hobbs Tells Cramer: "You Told People To Buy Bear S

Quote from bwolinsky:

This is a lie perpetuated by Jon Stewart. Cramer was not asked if they should buy bear stearns. He was asked whether to keep money at bear stearns. At the time the book value per share was $80, and when Cramer made this "call" which wasn't a call liquidity ratios were fine and BSC was at $30 but ultimately masked enormous losses on off-balance sheet liabilities.

I believe either SIPC or FDIC or both covered all of the customer accounts so it was actually the right call.

People can take a lot of what he says out of context, but he never said to buy Bear Stearns, he only said that it was "safe" to keep money at bear stearns. This was not a buy recommendation.
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We do not agree on a lot of things, but this was spot on.

And yeah I think Cramer is a clown. Entertaining, without question.Even interesting at times. But in this case, this loser Stewie is trying to make a name for himself or something. One would think that going up against Cramer would provide piles of ammunition to boggle the mind, yet Stewie picks this?

What a loser.
 
Quote from TGregg:

We do not agree on a lot of things, but this was spot on.

And yeah I think Cramer is a clown. Entertaining, without question. But in this case, this loser Stewie is trying to make a name for himself or something. One would think that going up against Cramer would provide piles of ammunition to boggle the mind, yet Stewie picks this?

What a loser.
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Definitely, I actually like his monologues, but picking off a knowledgable financial guru is not something he should dabble in.
 
Michael Lewis, a journalist for the U.K.-based Evening Standard news Web site, states that TheStreet.com listed Bear Stearns as a "Buy" at $62 per share on March 11, 2008, which was the same day as the caller's question and a day before the collapse of Bear Stearns. However, TheStreet.com--the web site quote that shows the ratings history for actual changes that Cramer makes—indicates that Cramer changed Bear Stearns rating to a "Sell" on February 5, 2008. On his March 12, 2009 appearance on the Daily Show, Cramer admitted he made mistakes on his Bear Stearns calls.


So, who is right?

Do the dates matter?

What mistakes is Cramer admitting?
 
Quote from SteveNYC:

Michael Lewis, a journalist for the U.K.-based Evening Standard news Web site, states that TheStreet.com listed Bear Stearns as a "Buy" at $62 per share on March 11, 2008, which was the same day as the caller's question and a day before the collapse of Bear Stearns. However, TheStreet.com--the web site quote that shows the ratings history for actual changes that Cramer makes—indicates that Cramer changed Bear Stearns rating to a "Sell" on February 5, 2008. On his March 12, 2009 appearance on the Daily Show, Cramer admitted he made mistakes on his Bear Stearns calls.


So, who is right?

Do the dates matter?

What mistakes is Cramer admitting?
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He doesn't control thestreet.com, really. Automated programs make those decisions, and you can ask James Altucher because that was my understanding of the programs and accounts for all of the recommendations on the site.

The real guffaw is Stewart's featuring of his response to a caller asking if it was safe to keep money at bear stearns, and this particularly is the call in question.

Since there is no manual intervention on the site and bvps was over $50 or more than 150% greater than the current price naturally any algorithm is going to list a buy, but there's no record of him buying or even saying to buy.

If it was [posted on thestreet.com], it was precisely for all of the reasons I've explained here.
 
Quote from bwolinsky:

This is a lie perpetuated by Jon Stewart. Cramer was not asked if they should buy bear stearns. He was asked whether to keep money at bear stearns. At the time the book value per share was $80, and when Cramer made this "call" which wasn't a call liquidity ratios were fine and BSC was at $30 but ultimately masked enormous losses on off-balance sheet liabilities.

I believe either SIPC or FDIC or both covered all of the customer accounts so it was actually the right call.

People can take a lot of what he says out of context, but he never said to buy Bear Stearns, he only said that it was "safe" to keep money at bear stearns. This was not a buy recommendation.
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No, that's revisionist bullshit. He was asked a "hold or sell" BSC question and responded, "BSC is safe". It was specifically an investment question, not whether BSC was good for a custodial relationship.
 
Cramer is a clown. I have heard him change his tune the next day if the markets are going the opposite of the day before. Then he acts like he never said the opposite of what he is claiming that day.
 
Cramer reflects the state of America and it's media. He is why US got downgraded to AA

Quote from taclander:

Cramer is a clown. I have heard him change his tune the next day if the markets are going the opposite of the day before. Then he acts like he never said the opposite of what he is claiming that day.
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