Cramer: Feds Step Up to the Plate

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At least the fundamentals are no longer sound. That was my takeaway from the two speeches given by our slow-to-understand government chieftains -- Treasury Secretary Henry Paulson and Fed Chief Ben Bernanke -- in their back-to-back soothing onslaught.

The short-sellers sure didn't like what they heard. They heard that the government might stand at the ready if things keep rolling over. There was a moment when Hank Paulson praised Fannie Mae (FNM Quote) for the capital it has raised -- about a week's worth of reserves, one quipped -- and there was a sense that the term facility's extension would be the difference-maker for a Wachovia (WB Quote) or a Bank of America (BAC Quote). It sure wasn't a decline in loan losses that had them going.

Cramer: Paulsen, Bernanke Finally Get It

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