Bear Shares Recover After S.E.C. Remarks
March 12, 2008, 7:11 am
The Securities and Exchange chairman, Christopher Cox, told reporters on Tuesday that capital adequacy at the nation’s five largest investment banks was being closely watched.
“We are reviewing the adequacy of capital at the holding company level on a constant basis, daily in some cases,” Mr. Cox said.
“We have a good deal of comfort about the capital cushions that these firms have been on,” he said.
KRAMER:
Tuesday, March 11, 2008 On Mad Money
Dear Jim: “Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?” - Peter
Jim Cramer: “No! No! No! Bear Stearns is fine. Do not take your money out. Bear sterns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.”
REALITY:
Fed comes to Bear Stearns' rescue; shares dive
Fri Mar 14, 2008 7:53pm EDT
Reuters
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