'Fast Money' Recap: Apple Loses Its Luster

Jim Goldman said Apple insiders had told him last week that they were very concerned about Jobs' appearance and health. He said Apple sat on the news that began to leak out from people who should know. Instead, he said Apple made the mistake of dribbling out the information in bits and pieces, without telling the "whole truth."

"Leaking it out like this doesn't do anyone any good," Goldman said.

Goldman also cited a source in the tech industry who said that Jobs is in "serious denial of his health circumstances."

Gene Munster, an analyst with Piper Jaffray, said Tim Cook, Apple's chief operating officer, will take over the reins while Jobs is away. He said Cook is Jobs' right-hand man and is very capable in running the opportunities.

Munster agreed with the panel that it's a good time to buy Apple because the company, despite Jobs' health, is fundamentally strong and is expected to hit its numbers for the next earnings report. "People still want to buy Apple's products," he said.

Ratigan asked Munster what he thought Apple shareholders should do in this situation. He said they should ride out of the storm and wait for the new products to come.

Ratigan went on to ask the panel for comments on a story from the Wall Street Journal that the Bank of America was in talks with the federal government for billions of dollars to digest the Merrill Lynch acquisition.

At what point, he asked pointedly, will the government allow the banks to fail in an orderly fashion instead of "pouring money into holes created by idiots." Instead of wasting taxpayers' money, it would more logical to use the public funds to encourage the formation of new banks, he argued.