CNBC.com's News Now: Whitney on Credit Crisis

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DOW 8149.09 -679.95 -7.7% NASDAQ 1398.07 -137.50 -8.95% S&P 816.21 -80.03 -8.93%   Monday, Dec. 01, 2008   WHAT YOU SHOULD KNOW     Cramer: A Market Snapback, J.Crew, and Apple Cramer was unfazed by Monday's 400-point drop in the Dow, he said during Stop Trading! The declines are a natural snapback after last week's "aggressive markups" by money managers hoping to save face after a horrible November. Play video     Dow Sheds Nearly 700 Points, Snapping Streak Stocks snapped their best five-day winning streak in 75 years with a resounding crack, giving back more than half the gains in one session... read more     Crescenzi: Recession's Here...Time to Buy? The National Bureau of Economic Research, the private, nonprofit, nonpartisan research organization that dates business cycles, said today that the U.S. recession began in December 2007, the date widely believed to be the start date... read more     TODAY'S TOP 5 VIDEOS     1.Meredith Whitney on Financials Meredith Whitney, executive director of equity research at Oppenheimer, discusses the credit crisis and her outlook on the financial sector.     2. NBER's Recession Call Discussing where we are in the recession, with Jeffrey Frankel, National Bureau of Economic Research Member, Harvard University, Kennedy School of Govt.; James Pethokoukis, U.S. News & World Report.     3. PIMCO's El-Erian On the Markets An expert outlook on the markets and global policy, with Mohamed El-Erian, Pimco co-CEO& co-CIO     4.Dr. Doom: Buffett's Approach to Investing Is Dead Warren Buffett's approach to investing is dead, says Marc Faber, editor & publisher of The Gloom, Boom & Doom Report. He tells CNBC's Maura Fogarty why Buffett's investment strategy is going to be dead for another 10 years.     5. Stop Trading, Listen to Cramer! Mad Money's Jim Cramer shares his stock picks and pans with CNBC's Erin Burnett.     Click here to view all of today's top videos on CNBC.com     CNBC.com BLOG OF THE DAY     College Bowl Games: Why Airline Travel Will "Slaughter" Them Waiting to announce which college teams will play in bowl games is going to hurt attendance. See All CNBC.com Blogs   Watch CNBC live on your desktop. Click here to find out how.   NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS

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