As banks write down billions and billions, Jim Cramer joins HP in asking - "WHERE THE FLYING F*CK WAS THE SEC? SARBANES-OXLEY ANYONE? ANYONE?"

Seriously, where the f*ck was the SEC? Where the f*ck IS the SEC? Where are the congressional hearings? Where's the office raids? Where's the frog-marches? Where are the state Attorneys General? Where's the Justice Department? Where's law enforcement?

Enough is enough. It's time for the arrests to start. Laws have been broken, criminals are running free (and being handsomely compensated), and the US appears to be a banana republic, and no longer a nation of laws.

Here's the new Cramer video (someone get this up on youtube OK?) - thanks bubble girl.

Cramer on the Banks: 'Where's the SEC?!'

Why isn't the Securities and Exchange Commission getting more involved in the whole banking sector writedown situation? Especially since the numbers are likely to get worse, not better? That's what Jim Cramer, CNBC's resident stock guru, wants to know.

"It's all fiction!" he declared during a forceful exchange (see it in full in the accompanying video) on CNBC's "Squawk Box."

"How can we have these levels of fiction in financials after Sarbanes-Oxley? How do people get away with this? How do they live with themselves?"

"I'm fed up with it. The American people should be fed up with it. And the SEC should be fed up with it," Cramer said.

"This is what the SEC is supposed to protect us from," he added.