Jim Cramer: "They know nothing!"

Jim Cramer: Bernanke is being an academic.  It is no time to be an academic.  It is time to get on the Bear Stearns call.  Listen, open the darn Fed window.  He has no idea how bad it is out there!  He has no idea!  He has no idea! 

Erin Burnett: Cramer.

Cramer: I have talked to the heads of almost every single one of these firms over the last 72 hours and he has no idea what it's like out there.  None!  And Bill Poole?  Has no idea what it's like out there.  My people have been in this game for 25 years!  And they are losing their jobs and these firms are gonna go out of business and he's nuts!  They're nuts!!  They know nothing!!

~ Jim Cramer, CNBC discussion with Erin Burnett, 2:00 mark, August 3, 2007