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Bear Stearns - Cramer's double take
03-14-2008, 11:14 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,513
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Bear Stearns - Cramer's double take
For some good humor!
On Tuesday Cramer said this about Bear Stearns in reccomending taking a position in the stock, "let me state vociferiously there is no liquidity issuue!"!
TheStreet.com : Video
Here is today's take:Now he is recomending the bonds and says avoid the stock: "Well the CEO wasn't a liar!"
TheStreet.com : Video
__________________
ERD 50 says I should post this as a warning in believing anything I would post. I allocated one percent of my portfolio to calls for 2020 and then sold all my stocks on March 5, 2020. Returned back in on June 3, 2020.
https://www.early-retirement.org/forums/f44/why-i-believe-we-are-about-to-embark-on-a-historic-bull-market-run-101268.html
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03-14-2008, 11:36 AM
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#2
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Recycles dryer sheets
Join Date: Jan 2006
Posts: 362
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 Quote:
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WASHINGTON — The Federal Reserve invoked a rarely used Depression-era procedure Friday to rescue Bear Stearns Cos. — the nation's fifth largest securities firm — as nervous investors sent the company's share price down a record 53 percent.
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I am going out on a limb here, does rescue mean my tax dollar is at work?
__________________
Fat, drunk, and stupid is no way to go through life, son.
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03-14-2008, 11:42 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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the new facility they announced a few days ago, the rumors were right that it was for bear stearns
i started playing with stocks back in 2000 and watch CNBC on and off. by now it's easy to spot when these guys are lying through their teeth.
this week we had the Fed and the SP come out to try to make things better and it didn't really do anything for the bank stock and financials. that's because the insiders know the game and what is really going on. otherwise their internal traders would have been buying up the stocks
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03-14-2008, 12:28 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,396
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Quote:
Originally Posted by poboy
I am going out on a limb here, does rescue mean my tax dollar is at work?
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Yes. The Fed is effectively assuming the liabilities of Bear Stearns. Since the Fed's source of capital is from the tax payers, we will pay for it.
__________________
May we live in peace and harmony and be free from all human sufferings.
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03-14-2008, 01:06 PM
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#5
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 44,393
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Quote:
Originally Posted by al_bundy
i started playing with stocks back in 2000 and watch CNBC on and off. by now it's easy to spot when these guys are lying through their teeth.
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Me too - - they are usually lying through their teeth when they open their mouths and start to talk! 
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03-14-2008, 01:23 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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pretty much
supposedly this was caused by their level 3 off the balance sheet "assets". remember that a lot of banks have these.
we get a week where the fed is giving out $200 billion, but no names and secret rumors of bear stearns being in trouble. then the next day SP comes out and says the bad days are over. the same organization that rated all this junk AAA. paulson speaks. CPI comes out and the seasonally adjusted numbers are shining even though all the commodity charts point up.
and surprise, bsc is in trouble after they said they are not and suddenly their financials got bad in a few days
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03-14-2008, 02:07 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Spanky
Yes. The Fed is effectively assuming the liabilities of Bear Stearns. Since the Fed's source of capital is from the tax payers, we will pay for it.
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Not to worry; they'll just "borrow" it from the Social Security Trust Fund. 
Ha
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"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-14-2008, 02:25 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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The market closed and one of the heads (sorry, I did not catch his name) said...
This is not a recession, we are heading into a depression. It may not be as bad as the GREAT DEPRESSION but still a depression.
This is not news to many here! I wonder how many millions Bear will pay to CEO who allowed this to occur 
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03-14-2008, 02:48 PM
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#9
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Moderator
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,475
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Quote:
Originally Posted by crazy connie
The market closed and one of the heads (sorry, I did not catch his name) said...
This is not a recession, we are heading into a depression. It may not be as bad as the GREAT DEPRESSION but still a depression.
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Real responsible. Just keep repeating it, media hacks, and make it a self-fulfilling prophecy by scaring the crap out of everyone. You beat the "recession drums" for months and you scared us into one. Now you're reaching for the depression drums. Lovely. What a bunch of drive-by financial porn stars. I can't stand their cheerleading for tougher times.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-14-2008, 04:23 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by haha
Not to worry; they'll just "borrow" it from the Social Security Trust Fund.
Ha |
Probably right. I hope Im not the one paying for it in my life time 
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03-14-2008, 04:42 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,396
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Here are some of the numbers:
James E Cayne, Chairman of the Board/Director, $38,313,890
Alan D Schwartz, President/Director/CEO, $35,734,422
Samuel L Molinaro Jr, Executive VP/CFO/COO, $26,553,750
Alan C Greenberg, Director, $19,920,272
__________________
May we live in peace and harmony and be free from all human sufferings.
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03-14-2008, 10:58 PM
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#12
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Full time employment: Posting here.
Join Date: Mar 2005
Location: Northern, Florida
Posts: 925
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Quote:
Originally Posted by Spanky
Here are some of the numbers:
James E Cayne, Chairman of the Board/Director, $38,313,890
Alan D Schwartz, President/Director/CEO, $35,734,422
Samuel L Molinaro Jr, Executive VP/CFO/COO, $26,553,750
Alan C Greenberg, Director, $19,920,272
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I hope it was all in BSC stock.
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Retired in 2006 at age 49.
"Who among us is smart enough to learn from the mistakes of others?" - Voltaire
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03-14-2008, 11:13 PM
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#13
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Full time employment: Posting here.
Join Date: Mar 2005
Location: Northern, Florida
Posts: 925
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Quote:
Originally Posted by Running_Man
Here is today's take:Now he is recomending the bonds and says avoid the stock: "Well the CEO wasn't a liar!"
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I wonder who bought those 17,500 puts on BSC yesterday?
__________________
Retired in 2006 at age 49.
"Who among us is smart enough to learn from the mistakes of others?" - Voltaire
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03-14-2008, 11:15 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,513
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I read on a tech board site that on Thursday there actually was a single trade for 55K in Bear Stearns 30 puts. Will be interesting to see if the SEC investigates
__________________
ERD 50 says I should post this as a warning in believing anything I would post. I allocated one percent of my portfolio to calls for 2020 and then sold all my stocks on March 5, 2020. Returned back in on June 3, 2020.
https://www.early-retirement.org/forums/f44/why-i-believe-we-are-about-to-embark-on-a-historic-bull-market-run-101268.html
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03-15-2008, 07:47 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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supposedly this was caused when people wanted to cash out level 3 assets. couldn't have been an investor in these assets who knew everyone wanted their money and if bear was stalling chances are they were short on cash
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03-15-2008, 08:00 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,396
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No..
Salary $250,000  Bonus $16,237,150 O
T
H
E
R Latest FY other short-term comp. $0 Latest FY other long-term comp. $19,247,272 Latest FY long-term incentive payout $0 Total $35,734,422
__________________
May we live in peace and harmony and be free from all human sufferings.
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