http://en.wikipedia.org/wiki/Jim_Cramer#Investor On Tuesday, March 11, 2008, Cramer listed Bear Stearns (BSC) as a “Buy” in his Mad Money Stock Picks.[24]. On that same day, when asked on his CNBC Show Mad Money whether concerns about the company’s liquidity would warrant withdrawing their holdings from the company Cramer replied “No, no, no! Bear Stearns is fine! Do not move your money from there. That’s just being silly!”[25] and displayed a chart of BSC’s current stock price. By the following Monday, BSC shares dropped more than 92% in the wake of a bailout necessitated by a critical liquidity shortage.[26] [27] Cramer’s recommendation was later parodied by Jon Stewart on the March 17th, 2008 episode of The Daily Show. Cramer has since attempted to defend this recommendation by stating he was talking about those with brokerage accounts with Bear Stearns. However, this does not explain why he listed Bear Stearns as a “Buy” in his stock picks the very same day and displayed a graph of Bear Stearn’s stock price when answering the question. Additionally, Cramer is known to talk exclusively about stocks on his show and not about deposit accounts.
He sure has been wrong a lot lately…SGP, NLY, LVLT, SIRI, RAD…