An on-air debate between CNBC's Jim Cramer and Simon Hobbs over European banks gets testy....

|By:, SA News Editor

An on-air debate between CNBC's Jim Cramer and Simon Hobbs over European banks gets testy. Cramer said traders have to consider the possibility that this is a Lehman moment, and Hobbs cried foul, arguing that even the suggestion of a Lehman moment could cause markets to convulse. Hobbs to Cramer: "You told people to buy Bear Stearns!"