Jim Cramer, A Love Letter

Yes, there are Inverse Cramer ETFs, and plenty of things to say about his Bear Stearns call... But 16 years ago, Cramer made arguably his greatest rant ever on live television.

Dear Fellow Expat:

Where were you on August 3, 2007?

I was standing at 40 Wall Street on the 10th Floor. A colleague called me over to the company television. There, he rewound the video of Jim Cramer from a moment prior. (Remember… TIVO?). He unpaused…

And then… CNBC’s Erin Burnett interviewed Jim Cramer (although she barely got a word in). The subject was Bear Stearns’ decision to tell the market that it wasn’t going to buy back stock and that it needed capital to “weather the storm” that was the worst fixed-income market in 22 years.

JPMorgan bought this company for $2.00

What followed was… and still is… Cramer’s finest hour.

Here’s the transcript from this video. [All emphases are mine].