CNBC's Jim Cramer Screamed "Bear Stearns Is Fine! Do Not Take Your Money Out!" The Stock Was at $62. Five Days Later It Was Worth $2.

A viewer wrote into Mad Money worried about their brokerage account at Bear Stearns. Cramer, with his signature apoplectic confidence, practically screamed at them to keep their money right where it was. The stock was trading at $62 per share. Five days later, Bear Stearns collapsed so spectacularly that JP Morgan swooped in to buy the entire company for $2 per share — a 97% haircut that vaporized billions in shareholder value overnight. The best part? Jon Stewart later discovered that just seven weeks earlier, Cramer had explicitly told viewers to "buy Bear Stearns" at prices above $60. When confronted on The Daily Show, Cramer claimed the "Bear Stearns is fine" comment was only about deposit safety, not the stock. Stewart responded by playing clip after clip of Cramer pumping the stock itself. The interview became the second most-watched Daily Show episode ever. Cramer still has his show.