Categories: OLD Media Moves

What he really meant to say was…

Conrad De Aenlle of The New York Times writes Sunday that CNBC “Mad Money” host Jim Cramer says he was misunderstood when he responded to a viewer’s question about Bear Stearns.

De Aenlle wrote, “In a March 11 broadcast, viewed tens of thousands of times on YouTube and parsed by satirists like Jon Stewart, Mr. Cramer told a viewer who asked whether he should remove money from Bear: ‘No, no, no! Bear Stearns is fine. Bear Stearns is not in trouble.’ He then advised: ‘Don’t move your money from Bear. That’s just being silly.’

“Late last week, Mr. Cramer said in an interview that he was referring to assets in Bear Stearns brokerage accounts, not the stock.

“On the contrary, he said, he later made ‘an unbelievable call’ that the stock would end up worthless. A transcript of a broadcast on March 14 has him panning the stock, although he did not say unequivocally that it would fall close to zero. As for his earlier assessment that Bear Stearns was not in trouble, well, that was somewhat off the mark.”

Read more here.

Recent Posts

Economist’s Bennet, WSJ’s Morrow receive awards

The Fund for American Studies presented James Bennet of The Economist with the Kenneth Y. Tomlinson Award…

4 hours ago

WSJ is testing AI-generated article summaries

The Wall Street Journal is experimenting with AI-generated article summaries that appear at the top…

5 hours ago

Cohen joining Bloomberg Tax

Zach Cohen is joining Bloomberg Tax to cover the fiscal cliff and tax issues on…

5 hours ago

Avila named interim editor for Automotive Dive

Larry Avila has been named interim editor for Automotive Dive, an Industry Dive publication. He…

5 hours ago

Reuters seeks a fact-checking editor

Reuters is seeking an experienced editor to take part in our fact-checking project and support the…

8 hours ago

Making financial news more accessible

CNBC Make It reporter Ashton Jackson writes about ways to make financial news more accessible to consumers.…

20 hours ago