Can you expand on the Wachovia situation? Looks like they sold all of their assets except Evergreen and A.G Edwards to Citi. Did they just run out of time?

"Look, this is a terrible time. Remember the stakes: The plan is about trying not to crash, the plan is about not letting the banking system disintegrate. It is not about upside surprises and better earnings."

That's not how I see it. It's giving a pass to correct the basic problem you can't or won't address - unbridled greed, and the things people will do to maintain it.

Without this plan, really bad things are going to happen. But it's not fixing anything. It's sticking a finger in the dyke, and you know it. You should be ashamed of yourself for not being honest about what is really happening here.

Crammer it's nice you are giving all this advice. I think you owe the people who you are backing in this race. Your CEO has said who he is backing with money and putting ads on his media outlet that are sick. Anyone putting a ad out their showing SEN Mc CAIN'S SCARES and saying he most likely is going to die soon is sick. I can't understand you the man who is suppose to be the man looking out for the little guy would not say something about this. Could it be that seven figure salary you get?

The reason for downgrades and upgrades??

Jim is a jerk

the reason for downgrades and upgrades? If money is not pouring into stock market in general, you will see more downgrades.. If more money is pouring into stock market, you will see upgrades... It has almost nothing to do with the companies themselves except few... You see, brokers need your cash to bid up stocks .. if your money is not coming in. then brokers sit on hands .. Brokers will have to choose stocks to downgrade because brokers dont have enough money to redeem shareholders when they sell. They can only solve this by lowering stock prices that is most likely to be sold ... before they are sold so to save brokers some liquidity for themselve...

When money is pouring in stock markets, brokers would upgrade stocks to goose you to pour even more money... Brokers aim to redeem shareholders less than they get from shareholders in the aggregrates... This is how they make money... If all of you hold stocks and not pouring money , the likest thing will be more downgrades because brokers wont have enough money to redeem to sellers and dont want to lose money themselves.. So that is why the buy and hold theroy never works... The stock market need as many losers as winners minus a little for the brokers in the difference if they get lucky. That is why the stock market need as many dumb investors as possible in order to reward the winners.... If every investor is smart , then the stock market will stall and fall no matter how smart they think they pick stocks... It will be all down.. Why? because money is not pouring in. In any scenario, it hasnt never happened because the dumb investors are still plenty around... Do brokers peek into your portfolios?? Who knows? Maybe yes?

I have been a democrat voter for 45 years but this year I will vote for every Republican or Democrat that voted AGAINST the Wall St. bailout.

Well, well, it didn't pass. Now comes the 8,000 DOW. Not. We will now find out with real time transparency what companies are real and which are Cramer dreaming, wall street screaming, bailout scheming, Dolly Wood. Fools and money date, seldom do they marry.

I thought Cramer was an economist. The economy is not good, oil prices took money for gas that would have helped it, and people have been living on credit beyond their means. Business revenue and profits are down, and will continue to go down when folks have to start living on what they make. Ergo, the Stock Market should go down...the companies are not worth what they were. If you are going to use tax money, use it to give business loans to keep them alive and employing us. The economy will survive and the market will recover if we keep people employed. There must be some financial institutions that will survive. An economist that doesn't worry about the national debt wasn't paying attention in school. And when and why did the US Govt borrow money from China?
As for Gumbo's comments, the market swings are driven by institutional investors, not John Q Public. They panic or rejoice over press releases and sell and buy accordingly.