Cramer: Wachovia Just Ran Out of Time

This post appeared earlier today on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

The rescue package didn't occur fast enough. It didn't occur fast enough for Washington Mutual (WM Quote) to get rid of the bad loans, and it didn't get to help Wachovia (WB Quote) in time.

Wachovia was a decent bank that made a really bad acquisition, and if the bill had passed soon enough, it could have split itself into a good and bad bank. It didn't get done in time.

And now Wachovia is dead. ...