Is This Financial Armageddon?

Is the subprime meltdown creating a Financial Armageddon? If you’re Jim Cramer—the blustery former hedge fund manager who now is an commentator on CNBC—you think so. This video clip of Cramer from an appearance on CNBC a couple days ago has been making the rounds on the Internet, and is pretty amazing, even for Cramer. He’s screaming that the Fed is asleep at the wheel, and desperately needs to open the credit window and cut interest rates (we’ll see what they announce at 2:15 today, but I’m betting the Fed does nothing) to keep Wall Street and the economy afloat.

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