Changes

On July 8, 2008 Jim brought up the possibility of bank failures. In his article, 'Look At The Facts'<ref>{{cite news |title=Look at the Facts |url=http://www.thestreet.com/p/_search/rmoney/jimcramerblog/10432518.html |publisher=TheStreet.com |author=Jim Cramer}}, July 8, 2008</ref> Cramer said, "The losses are increasing, the auction-rate preferreds are now biting, the mortgage implode-a-meter now measures how many home-builders are going under." The following day on July 9, 2008, during a segment on Mad Money Cramer again pointed out the forthcoming Financial Collapse. "Most frightening," Cramer said, "is the silence from those in the government who could take action but haven't. If silence means there is no plan, that's trouble for everyone."<ref>{{cite news |title=A Tribute to Jim Cramer's Mad Money |url=http://derekerwin.blogspot.com/2009/03/tribute-to-jim-cramers-mad-money.html |publisher=A 1-In-100 Blogger |author=Derek Erwin}} March 17, 2009.</ref> A few months later on September 15, 2008, the beginning of the market meltdown occurred.<ref>{{cite news |title=Lehman Files for Bankruptcy; Merrill Is Sold |url=http://www.nytimes.com/2008/09/15/business/15lehman.html?_r=1 |publisher=The New York Times |author=Andrew Ross Sorkin}} September 15, 2008.</ref>

On July 8, 2008 Jim brought up the possibility of bank failures. In his article, 'Look At The Facts'<ref>{{cite news |title=Look at the Facts |url=http://www.thestreet.com/p/_search/rmoney/jimcramerblog/10432518.html |publisher=TheStreet.com |author=Jim Cramer}}, July 8, 2008</ref> Cramer said, "The losses are increasing, the auction-rate preferreds are now biting, the mortgage implode-a-meter now measures how many home-builders are going under." The following day on July 9, 2008, during a segment on Mad Money Cramer again pointed out the forthcoming Financial Collapse. "Most frightening," Cramer said, "is the silence from those in the government who could take action but haven't. If silence means there is no plan, that's trouble for everyone."<ref>{{cite news |title=A Tribute to Jim Cramer's Mad Money |url=http://derekerwin.blogspot.com/2009/03/tribute-to-jim-cramers-mad-money.html |publisher=A 1-In-100 Blogger |author=Derek Erwin}} March 17, 2009.</ref> A few months later on September 15, 2008, the beginning of the market meltdown occurred.<ref>{{cite news |title=Lehman Files for Bankruptcy; Merrill Is Sold |url=http://www.nytimes.com/2008/09/15/business/15lehman.html?_r=1 |publisher=The New York Times |author=Andrew Ross Sorkin}} September 15, 2008.</ref>

On Hardball with Chris Matthews for September 19, 2008, Cramer suggested, "It's not too late to be on the sideline." On this day the Dow was resting at 11,388.<ref>{{cite news |title='Hardball with Chris Matthews' for September 19, 2008 |url=http://today.msnbc.msn.com/id/26841599/ |publisher=MSNBC TV |author=Jim Cramer}}, September 19, 2009.</ref> Cramer spoke again on the ''Today'' Show on October 6, 2008, suggesting to investors, "Whatever money you need for the next five years, please take it out of the stock market."<ref>{{cite news |title=Jim Cramer: Time to get out of the stock market |url=http://www.msnbc.msn.com/id/27045699/ |publisher=Today MSNBC |author=Michael Inbar}}, October 6, 2008.</ref> By February 24, 2009 the Dow was down to 7,351; since Jim Cramer's first warning to investors the DOW plunged some 3,000 points, ultimately it had plummeted 36% over the next five months.<ref>[http://www.cnbc.com/id/33330840 Cramer’s ‘Get Out’ Call: One Year Later], CNBC, October 15, 2009.</ref>

On Hardball with Chris Matthews for September 19, 2008, Cramer suggested, "It's not too late to be on the sideline." On this day the Dow was resting at 11,388.<ref>{{cite news |title='Hardball with Chris Matthews' for September 19, 2008 |url=http://today.msnbc.msn.com/id/26841599/ |publisher=MSNBC TV |author=Jim Cramer}}, September 19, 2008.</ref> Cramer spoke again on the ''Today'' Show on October 6, 2008, suggesting to investors, "Whatever money you need for the next five years, please take it out of the stock market."<ref>{{cite news |title=Jim Cramer: Time to get out of the stock market |url=http://www.msnbc.msn.com/id/27045699/ |publisher=Today MSNBC |author=Michael Inbar}}, October 6, 2008.</ref> By February 24, 2009 the Dow was down to 7,351; since Jim Cramer's first warning to investors the DOW plunged some 3,000 points, ultimately it had plummeted 36% over the next five months.<ref>[http://www.cnbc.com/id/33330840 Cramer’s ‘Get Out’ Call: One Year Later], CNBC, October 15, 2009.</ref>

=== Academic study ===

=== Academic study ===