“Should I take my money out of BSC?” … "NO … NO … NO … Bear Stearn is fine " … Check out the last 2 minutes of this. Too funny … http://www.thedailyshow.com/video/index.jhtml?videoId=164178&title=broken-arrow
This should be recorded by historians as the most idiotic statement anyone has ever made.
Cramer claims that the questioner meant should they take their money out of their BSC account, not the stock. Seems a bit weird for me that a Cramer watcher would have an account with BSC.
Did he mean BSC personal accounts? I don’t understand.
I highly doubt that anyone looking for Cramer’s advice would have personal accounts at BSC. This clown could be done once and for all after this debacle.
He is just covering his ass. Obviously he initially meant BSC stock. What else do people calling him talk about.
He thought the question was asked if they should remove money from the BSC Bank Account… and he told that why the heck do we have to worry aboutt that since it’s backed by FDIC or something…
What are the chances that’s really what he thought they meant? 10,000 to 1?
Not only he’s a clown, but he’s willing to do and/or say anything to look good. So we’re supposed to believe that the caller had a Swap in place with BSC and was worried about increasing counter-party risk ?? :)) … Or maybe a hedge fund manager worried about his prime brokerage account ???
I like how at one point he said it would have been irresponsible of him to say Bear might have a liquidity problem because it could cause a run on Bear - as if his word could bring banks to their knees (not sure which clip, but it’s somewhere during his back pedaling)
The funny thing is people like that never think they’re wrong. I bet somehow in his mind he is able to justify that he gave good advice.
Isn’t the ability to justify wrong-doing one of “The Fraud Triangle” from Level II
thepinkman Wrote: ------------------------------------------------------- > The funny thing is people like that never think > they’re wrong. I bet somehow in his mind he is > able to justify that he gave good advice. Couldn’t agree more. a) obviously he was talking about the stock. it’s refreshing to come on here and see that most people here can recognize that compared to you tube where everyone buys his pathetic cover. b) it’s not bad that he was wrong on BSC, but it’s downright shameful that he’s so arrogant that he can’t admit his mistake and is trying to backpedal with this nonsense about “the federal reserve is guaranteeing the money, they’re just not guaranteeing the equity” c) it’s also pretty pathetic that he thinks “Mad Money with Jim Cramer” has the power to cause a run on the banks! Please.
AbbeFaria Wrote: ------------------------------------------------------- > as if his word could bring banks to their > knees (not sure which clip, but it’s somewhere > during his back pedaling) sha-na-na-na-na-na-na-na-na-na-na-na-na-na-na-na knees!! kneeeees!!!
saw Jim walking down the street behind Wall yesterday: a) he looked really sad (maybe about this pick) b) he’s pretty short c) why doesn’t he have a driver?
he meant BSC on TSX… http://beta.stockhouse.com/tools/?page=%2Ffinancialtools%2Fsn_overview.asp%3Fsymbol%3DT.BSC actually he did pump Bank of Nova Scotia yesterday…ironic.
Everyone’s giving Cramer crap b/c he made a bad pick. First of all, no one saw this coming…we all thought Bear would’ve be taken over if things got very bad but not many people thought it would be penny stock besides the deal team that worked on the valuation. Even Joe Lewis got hit. Also if anyone buys a stock solely on the suggestion of Cramer, you deserve to get burned. Cramer isn’t supposed to be America’s Financial Advisor or Stockbroker. He’s on CNBC to entertain us and possibly spark some ideas for us to do further research.
I don’t know but wasn’t cramer a mediocre hedge fund manager in the first place? I heard someone talking to him said that he could make billions being a hedge fund manager, but choose to be a money talk show host. Somehow they mentioned he used to work for Goldman. Whoppee do.
Cramer worked for Goldman? Well this is the first I’ve heard of it.
I don’t care so much that he made the wrong call, it’s that he didn’t man up and deal with it that was lilly livered. Of course no one saw it coming, but that would have been a good opportunity for him to espouse responsible investing and diversification.