Bernanke listens to Cramer?

"They know nothing!"

NEW YORK (Reuters) - The U.S. Federal Reserve on Friday provided the largest amount of liquidity for a single market operation in four years, adding ample funds for the second day running as markets fretted over credit conditions.

In a rare statement shortly after the operation, the Fed said it would provide liquidity as needed "to facilitate the orderly functioning of financial markets."

"In current circumstances, depository institutions may experience unusual funding needs because of dislocations in money and credit markets," it said.

The last time the central bank made a similar statement was after the September 11, 2001, terror attacks, when it also said it would do what was necessary to keep markets functioning normally. The Fed had made a similar vow in October 1987 following a precipitous decline in U.S. stock markets.

I have no idea what any of this means, but if Krugman says it's scary, then it probably is.