Monday, March 17, 2008

"Bear Sterns Is Fine!"

Here's some great video of CNBC's Jim Cramer, host of Mad Money, explaining last week why a viewer shouldn't sell Bear Sterns stock: "Bears Sterns is not in trouble...Bear Sterns is fine!"

Gee, once again Jim Cramer couldn't have been more wrong about a stock (if you want to see his track record on stocks, see this article from Barron's.)

And yet, there was Mr. Cramer on a CNBC special tonight about the Bear Sterns collapse to provide his "expertise" without noting how he had been absolutely, totally and completely wrong about Bear Sterns the week before.

Once again, we see how accountability is only for public school teachers.

H/T to TPM.
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