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Jim Cramer Suggested 'Don't Move' From Bear Stearns Week Before Collapse

Host of CNBC's Mad Money, Jim Cramer, received a question a week before the collapse of Bear Stearns.

The viewer named Peter asked: "Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?"

"No! No! No! Bear Stearns is fine," Cramer said emphatically. "Do not take your money out. Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear. That's just being silly. Don't be silly!"

Well, on that day, Bear Stearns had a stock price of $62.97. As of noon March 17, the stock price had plummeted to $3.80 a share after the market opened.

March 18, 2008 |

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