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Monday, March 17, 2008

CNBC Jim Cramer Wrong on Bear Stearns - Video

I feel sorry for Jim Cramer it seems lately he's the most hated talking head on TV. As I've said on this blog before passive income is one of the best ways to becoming wealthy. When you decide to make an investment don't just listen to one source like CNBC's Jim Cramer, do research from multiple sources. Jim Cramer in the video clip below said "Don't sell Bear Stearns!" Oh how wrong he was!

If you haven't heard already, "The Fed agreed to pony up $30 billion in so-called nonrecourse loans - agreements that transfer the risk of Bear's bad mortgage bets to U.S. taxpayers. The Fed's decision paved the way for the Sunday evening deal that put Bear in JPMorgan's hands for $2 a share, a 93% discount to Friday's closing price (http://money.cnn.com)."

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