TheStreet.com TV Recap: Credit Crisis Bleeds Into Retail

The mortgage crisis is spreading outside its industry and into retailers, Jim Cramer said on TheStreet.com TV's Wall St. Confidential Web video Friday.

Fed Chairman Ben Bernanke and company have a very strong view that the crisis is contained, which is why many of the Fed's presidents want to tighten rates, he said. However, it clearly is not contained in retail, "although no one really wants to admit it, expect for BJ's (BJ Quote)."

The wholesaler recently commented that it's expanded heavily in Florida, but that since people can't sell their homes in the Northeast to move to the Sunshine State, "Florida doesn't have the growth anymore," Cramer said.

Also, Brocade (BRCD Quote) mentioned that it seems financial services firms, big customers for the tech company, "are going to be rocked by this," he added. ...