Cramer's 'Mad Money' Recap: Sept. 9

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"In the bottom on the ninth inning, with two outs, Richard Fuld, the CEO of Lehman Brothers (LEH Quote), kept the bat on his shoulder and was called out on strikes," Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

Cramer said he's been withholding criticism on Lehman out of respect for Fuld, whom he assumed would do the right thing and save his failing company. However after the stock's collapse today, Cramer said it was time to speak out about Fuld's inaction.

He criticized Fuld for missing multiple opportunities to either sell the company, monetize its many great assets or at least recapitalize itself while its share price was high.

Cramer urged Fuld to take action and sell the company as late as last Friday on CNBC. Fuld, however, took none of these steps and the window has now closed on this great company, he said.

Cramer reluctantly added Fuld to the second spot on his "Wall of Shame" list of the worst CEOs in America.

He also warned two other CEOs, Vikram Pandit of CitiGroup (C Quote) and Robert Willumstad of AIG (AIG Quote), may also face similar fates if they too don't take swift action to save themselves.

Cramer: Sell Into Sliding Commodities

China Disappears

"What's killing the commodities and when will it stop?" Cramer asked his viewers.

Cramer said it's the lack of Chinese demand for steel, coal and fertilizer that's largely to blame for the severe decline in commodity prices. He also said a global slowdown is eminent as the European and Asian central banks strangle the economies in their respective areas of the world with high interest rates.