CNBC SMACKDOWN - Simon Hobbs Tells Cramer: "You Told People To Buy Bear Stearns!"

CNBC Video - Simon Hobbs & Jim Cramer battle over European banks - Aug. 18, 2011

Pretty brilliant moment from last week.  Runs 2 minutes.

Source - BI

A debate between CNBC anchors Jim Cramer and Simon Hobbs went out of control this morning amid the European bank rout.  Cramer opined that traders have to consider the possibility that this is a Lehman moment, and after the commercial break Hobbs cries foul over the comment.

Hobbs criticizes Cramer, arguing that even the suggestion of a Lehman moment could cause markets to convulse.  Cramer argues that he's bound to acknowledge it in order to prevent being "crucified" again by viewers who listen to his advice.

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[DailyBail]

'Europe and euro on brink of abyss'

http://www.thelocal.fr/899/20110819/

[DailyBail]

http://www.ft.com/intl/cms/s/0/401dc692-c989-11e0-9eb8-00144feabdc0.html#axzz1VUE83l5r

Silvio Berlusconi’s ability to pass a €45.5bn austerity decree swiftly through parliament, as demanded by the European Union, is being jeopardised by a slew of amendments proposed by his own coalition and opposition parties.