What did Jim Cramer say about Bear Stearns?

After the 2008 financial collapse, Cramer faced intense criticism for encouraging the audience of “Mad Money” to hold on to their stock in Bear Stearns. On March 11, 2008, he reassured his viewers: “Bear Stearns is fine. Do not take your money out,” he said.

Why did Bear Stearns collapse?

Bear Stearns was a global investment bank located in New York City that collapsed during the 2008 financial crisis. The bank was heavily exposed to mortgage-backed securities that turned into toxic assets when the underlying loans began to default.

What does Jim Cramer say at the beginning of Mad Money?

Cramer usually starts his shows saying this, or an alternative version of this phrase after opening credits: “Hey, I’m Cramer, welcome to Mad Money, welcome to Cramerica, some people want to make friends [at this point, Cramer adds an extra, original statement], I just want to make you money, because my job is not just …

Do not take your money out of Bear Stearns?

Bear Stearns is fine. Do not take your money out. If there’s one takeaway, Bear Stearns is not in trouble. I mean, if anything, they’re more likely to be taken over.

When did Bear Stearns fail?

March 16, 2008
On March 16, 2008, Bear Stearns, the 85-year-old investment bank, narrowly avoids bankruptcy by its sale to J.P. Morgan Chase and Co. at the shockingly low price of $2 per share.

What is Jim Cramer’s net worth?

$100 million
Wealth. According to Money, Inc, Jim Cramer has a total estimated net worth of $100 million.

What investment banks failed in 2008?

On Sept. 15, 2008, Lehman Brothers, a well-known and respected investment bank, filed for bankruptcy protection after the Bush Administration’s Treasury Secretary, Hank Paulson, refused to grant them a bailout.

What does Booyah mean in Mad Money?

signal satisfaction or accomplishment
Booya,” also spelled “Booyah,” is used as an interjection to signal satisfaction or accomplishment. ESPN’s Stuart Scott and Jim Cramer of CNBC’s “Mad Money” helped popularize the catch phrase. ( The food called booya, a simple meat stew cooked overnight, is served in big batches at public festivals.)

What does Mad Money stand for?

Definition of mad money 1 : discretionary money set aside for an emergency or for personal use Mad money is a bit of cash set aside for some personal fun …— Jerry Tarde I tell everyone I am semi-retired.