[Beginning of Cramer's verbatim comments for this segment...]

Jim:          Jeffrey Peek, who I think is the horrible CEO of CIT Group, Inc. (CIT), one of the worst lending institutions in the country, and an exemplary member of the Mad Money Wall of Shame... has finally done something good for his company... he's tendered his resignation, effective the end of this year, although there's quite a bit of time between now and the end of the year... so anything can happen. Yes, Jeffrey Peek is taking a real vacation that can only be rivaled by the permanent intellectual vacation he's been on for the better part of the last 18 months...

This is really a case of "better late than never"... because I don't think CIT has a prayer of surviving on its own... but at least Peek is getting what he deserves! This guy has been an amazing destroyer of shareholder value, as he did stock offering after stock offering, trying to prop up his ailing company. Huge money losers for anyone who even came near this thing! Right now, CIT is trading at less than a dollar. Who knows where it will end up at year's end... when Peek's rein of value destruction comes to an end...
 

When this guy took over on July 21st of 2004, CIT was trading at $37. The stock was down today. I can't really make a case for why it should go higher, but I do think that you shouldn't let the stock's performance today mislead you into believing that Peek's departure is anything other than good news.

We're also taking down Straus Zelnick, the CEO of Take-Two Interactive Software (TTWO)... He's paid his dues for not getting that Electronic Arts (ERTS) deal done, and in retrospect, it does "take two" to pay the the right price and Electronic Arts, also in retrospect, should have bought Take Two... as it would have helped the once all-powerful game maker to get Grand Theft Auto to replace its aging franchises.

Now, we've got a big hole to fill... big shoes... colossal cordovans!... And to find someone awful enough to fill them, we need to go... well, it wasn't easy, believe me... I had to do some serious noodling'... and we need to go back to the Wall of Shame well... we have to go to a Wall of Shame recidivist!... That's right, we're going back, tonight, to Wes Edens, chairman of Fortress Investment Group (FIG)...

Now, I originally put Edens on the Wall back on February 8th of 2008, when Fortress was trading... it's like a hedge fund masquerading as a company... actually, let's be a little more polite... it's a company. It was trading at $14.42 the last time the man with an "anti Midas touch," a serial, again, destroyer of capital, running a catastrophe of a company, would happen to visit our wall... Then, on December 4th of last year, when Fortress was trading at $1.89, I took Edens off the Wall of Shame... not because he'd done anything to merit a reprieve, but because of the mercy killing rule. I just figured there wasn't much point in keeping his face up there, when the stock was already at less than $2 bucks a share.

I was wrong...

From now on, it's with malice toward all, and charity for none... Oh, and I obviously will never be invited to a legendary Wes Edens' Hamptons bash after this... but so what, pal! The summer's over!

Tonight, I'm putting Wes Edens back on the Wall for the hosing of the public on the Rail America IPO, which came at $15 today, but never traded anywhere near that, and fell to $13.75 at the close. Bob Pisani chronicled this thing excellently from the floor today...

This overpriced short-haul rail line company that Fortress took public today, I think, was a total disaster!... Partially because of the deal structure where, as Bob Pisani told us, Fortress is cashing out, simply taking half the money from the IPO itself, not cashing in, and because nobody wants to get in on a crummy IPO, with a glut of new companies coming public.

We like IPOs here, but Edens could kill the whole IPO market with this kind of destruction. Thanks for spoiling it for everyone to make a couple of sheckles there, Edens! Not that we shouldn't have known it because, when Fortress did its own secondary, you were hammered immediately for buying that nasty piece of merchandise, priced at $5 on May 13th. It went to $2.72 on July 8th...

Bottom Line:     Wes Edens...  Congratulations on becoming the first man to be a two-time member of the Mad Money Wall of Shame...  Rail America?...  Nah...  How about riding out of town on a rail, Wes?  So you can't hurt anymore unsuspecting investors.  May the second time be a real charm!

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Market Results today: Dow:  - 15 Nasdaq:  + 0.75 S&P 500:  - 3 1 2 3 4 6 See all of tonight's stocks mentioned on Yahoo! Finance, here...