Please make thread titles descriptive. You do not need to root or hack a phone to wipe your SD card and unless you're running darktremors a2sd, SD cards are not necessary for a phone, rooted or otherwise, to function.
You have two questions/issues here
1) You formatted your SD card. What if anything can you do. Answer = Unless you back it up frequently, nothing. When you get the phone booted it will install all it's necessary stuff onto the SD card after it mounts. But that brings us directly to #2
2) You're in a boot loop. See sfhub above as he's going to get that fixed for you.
Well it looks like sfhub might be logged off now so Do this ....
1) Pull your battery out
2) Put the battery in and follow my instructions closely.
3) With the phone off, Press and hold the home button (dont let go until i say)
4) Press and hold the volume down button (don't let go until i say)
5) Press and hold the power button. Dont let go of any of the buttons until you are at the recovery screen.
6) You can now let go of the buttons i said to not let go of
I have a very similar issue with the CWM recovery. If I attempt to go into it by doing the "Home+VolDown+Power" key combo, it will never (and I mean NEVER) boot into recovery. However, if I'm already in the phone and choose "Boot Recovery" from the power menu... it works every single time.
The Thunderc recovery (1.2 anyway) always worked with the key combination though. Might eventually switch back just for peace of mind.