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Thread: Simon Hobbs Tells Cramer: "You Told People To Buy Bear Stearns!"

  1. #1

    Simon Hobbs Tells Cramer: "You Told People To Buy Bear Stearns!"

    [QUOTE]CNBC Video - Simon Hobbs & Jim Cramer battle over European banks - Aug. 18, 2011

    Pretty brilliant moment from yesterday. Runs 2 minutes.[/QUOTE]

    [url]http://dailybail.com/home/cnbc-smackdown-simon-hobbs-tells-cramer-you-told-people-to-b.html[/url]

    How is this guy still on tv?

  2. #2
    [QUOTE=Jetdawgg;4109960][url]http://dailybail.com/home/cnbc-smackdown-simon-hobbs-tells-cramer-you-told-people-to-b.html[/url]

    How is this guy still on tv?[/QUOTE]

    He is there to sell books and financial products, not stocks.

    Re: Bear Stearns, Cramer has some kind of an awkward excuse, I can't tell if it's valid or weasel-y, about him really meaning investor money was safe with Bear Stearns Asset Management rather than money in Bear Stearns common stock - I believe they were discussing BSAM at some point, but the manner in which he was saying money was cool in Bear Stears was consistent with the way he always addresses money in a particular stock.

    If he got it wrong he did not have the balls to say so because he'd be admitting one of the historic whiffs of all time. Ahhh.... weasel.

  3. #3
    SD, they are getting a little testy with each other on CNBC. Something big could be happening soon

  4. #4
    [QUOTE=Jetdawgg;4109994]SD, they are getting a little testy with each other on CNBC. Something big could be happening soon[/QUOTE]

    Thank you Wikipedia:

    [I]"Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?" Cramer responded "No! No! No! Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear."[/I]

    I remembered it wrong, the guy was talking about his retail account, Cramer then addressed his retail account and later Cramer claims he implied accounts were safe at Bear with those poorly chosen words "Bear Stearns is not in touble", as in Bear Stearns accounts.

    No idea what he felt about Bear Stearns at the time, couldn't have been bullish about them unless he was getting too cute reading into the relationships of the powerful and connected to run those institutions.

    Without TV here, might have to follow this tiff on Twitter.

  5. #5
    I bet Hobbs lost some money with Cramer (lol):D

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