Jim made mistake and doesn’t want to say "I was wrong". <sarcasm> WOW, it’s a new concern on Wall/Bay street, he is the first one to behave such way. </sarcasm>

The same problem happens with Garth Turner who was promoting Nortel heavily all the way down from $120 to under $1. When people called his mistakes on his own forum, what he did? He just shut the forum down. Nice way to deal with a problem.

However, he does have a blind spot when it comes to finance and banking industries, and can go off the rails defending losing companies or crying for government actions to help the industry claiming the entire economy is on the line. You just have to remember that these guys are ‘his people’, and his analysis is affected by that.

Which is why you should never act on an analysts word alone, which Cramer himself says quite often by encouraging investors to do their homework on their investment choices.

That fact means that current controversy shouldn’t be dwelled on too much, other than to note his flaws.

Mommy always used to say "if you can’t say anything nice, say nothing." While he’s never been known to pull punches, in this case he might have been better not to have mentioned Bear at all if he knew something was going down.

If you are taking your advice from a TV personality who doesn’t know you from Adam, then you will get exactly what you paid for.