money manager

The following video scares the absolute $#!+ out of me, and I don’t really scare that easily.

Because what we’re talking about at this point is our own personal liquidity.

Cramer (famous for being the wily host of Mad Money, but a serious money manager in his own right) is saying that if something doesn’t happen soon then some BIG banks will fail and institutions like the FDIC may not be able to help us because they’ll be overwhelmed.

Seriously, watch it.

If the thought of opening up your mutual statement makes you squeamish or if you avert your eyes whenever CNBC comes on at the gym, it's understandable.

This has been one ferocious stock market. Not only has Wall Street been flirting with a bear market - conventionally defined as a 20% decline in the major indexes - but we're now in "the second-worst eight-year period for stocks since the 1930s," says money manager Martha Ortiz of Aronson Johnson & Ortiz in Philadelphia.