Jim Cramer discusses bank runs before the stock market opened. He was worried that other banks might also have problems because of these bank failures. He said that some banks made bad decisions and didn’t have enough money to back them up.
CNBC's Jim Cramer Cognizant of Tense Day Ahead on Wall Street After Bank Failures: 'It is Easy for Any of Us to Cause a Run' on Banks https://t.co/Mo42MpZWpG— Mediaite (@Mediaite) March 13, 2023
“It’s so easy to transfer money to the banks that are ‘not in trouble,’ that we have to deal with something which says you cannot move, period, end of story,” Cramer said. “So it’s not over. I do want to caution that if you have money in some of these banks, well, they’re obviously going to punish you. We don’t know which ones are which, obviously, and I don’t want to cause any run. It is easy for any of us to cause a run at this moment.”