Bear Stearns Is Fine!
Created on: March 19th, 2008
Bear Stearns is fine!
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FYI, he wasn't talking about Bear Stearns' stock, he was talking about Bear Stearns' accounts -- which he was right on. The question was whether you should take your money out of a Bear Stearns account, which he was right, you have no reason to -- they're all now being taken care of by JP Morgan and the fed. I'm not going to back him up on other things, and I think we're completely f*cked in every other way, but it's unfair to beat him up over this comment out of context. Also, c*cks.
Guess what, genius, "in terms of liquidity" means an account. As in, a savings account. As in, he was worried they would not have his money if he went down there to make a withdrawl. As in, it has NOTHING TO DO WITH THE STOCK PRICE.
Incidently, all the accounts are backed by JPMorgan and the FED, so Cramer is totally right here.
Boy, is your face red.
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