I’ve included at link to the worst predictions of 2008. Below are a sample of some of the predictions.
“No! No! No! Bear Stearns is not in trouble.” – Jim Cramer, CNBC commentator, Mar. 11, 2008
Five days later, JPMorgan Chase (NYSE:JPM - News) took over Bear Stearns with government help, nearly wiping out shareholders.
“In today’s regulatory environment, it’s virtually impossible to violate rules.” – Bernard Madoff, money manager, Oct. 20, 2007
About a year later, Madoff – who once headed the Nasdaq Stock Market – told investigators he had cost his investors $50 billion in an alleged Ponzi scheme.