by Chris Menahan, Information Liberation:
With news of Silicon Valley Bank’s collapse sending shockwaves throughout the financial system, video of CNBC host Jim Cramer urging his viewers to purchase stock in the bank last month is now going viral.
From The New York Post:
�This company is a merchant bank with a deposit base that Wall Street has mistakenly been concerned by,� Cramer said in the clip.
TRUTH LIVES on at https://sgtreport.tv/
Jim Cramer said Silicon Valley Bank was a buy last month at $320
Today it is being closed by California regulators pic.twitter.com/x1xMBTrQTS
— Inverse Cramer (Not Jim Cramer) (@CramerTracker) March 10, 2023
Cramer touted the fact that the bank was �less dependent upon private equity and venture capital offerings.�
He said the stock was the �fourth-worst performer of 2022� though it was worth buying because �being a banker to these immense pools of capital has always been a very good business.�
The bank’s collapse on Friday marked the “largest bank failure since the Great Recession,” according to the AP.
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