Cramer: We need a disaster plan!

(Click for video linked to a searchable transcript of this Mad Money post)

If ever there was a time to step up, it's now, says Cramer

The Mad Money host is outraged that few if any officials stepped up on Thursday into a position of leadership as the Nasdaq halted trading for over 3 hours. The "Flash Freeze" as some are calling it became the latest in a string of technology problems for the financial markets.

"Come on, guys, get it together," demanded Jim Cramer.

It's not that the Mad Money is looking for immediate accountability, that will come later. But he would have liked to have seen at least some sense of responsibility before 5:45pm when CNBC received its first official statement from the Nasdaq.

"Chief Executive Officer, Bob Greifeld or one of the other Nasdaq officers could have gone on TV and said 'look we don't really know what happened. We are working hard to figure it out. We apologize and will do our best to get to the bottom of this.'"

That didn't happen.

"And where was the government," Cramer asked. Why didn't the Securities & Exchange Commission, the regulator for trading, come out today and say "we are looking into this and we think that there are real issues that have to be investigated here?'"

That didn't happen either.

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Adam Jeffery | CNBC

Instead Individual investors were left in the dark and that's something Cramer just won't stand for. "Many people have much of their life savings in stocks. They count on the stock market being a legitimate asset class, something that works."

Yet on Thursday it definitely did not work.

(Read more: Nasdaq: 'Connectivity issue' led to three-hour shutdown)

Cramer hopes that the industry and the government aren't becoming anesthetized to the issue, yet he fears that's exactly what's happening.

"I'm hearing people say that it comes with the territory. I'm seeing people throw up their hands and say, oh well, too bad," said Cramer.

The Mad Money host isn't willing to throw up his hands; not for one minute. Instead he intends to demand change.

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"The system's too complicated. It needs to be simplified," Cramer said. That should be job one.

Also Cramer wants to see a back-up system put into place. "One that kicks in when the software goes down," he said. "There should be some gigantic server farm amid the corn fields in Iowa."

Cramer isn't kidding. And he hopes that regulators listen to what he's saying along with other esteemed professionals such as Dennis Gartman, author of The Gartman Letter, Jon Najarian, co-founder of Option Monster, and even Former SEC chairman Harvey Pitt.

"Nasdaq has, in my view, (some) serious issues," Pitt said.

Among those is investor confidence. Cramer fears it could erode substantially.

"The SEC can not tolerate this nonsense. The SEC has to act and act fast to make these markets more responsible and responsive, not just for professional traders but for all of us."

Call Cramer: 1-800-743-CNBC

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