Rick Santelli comes out swinging and accuses Steve Liesman of Fighting Like a Girl

Rick Santelli was on a tear this morning and took the first swing at Steve "I can put a positive spin on anything" Liesman and when he swung back, Rick Santelli informs the planet that Steve fights like a girl. Rick's ire is raised at the 7:45 mark and the "fights like a girl" fireworks are around 10:15.

Enjoy the show! (the cackling in the background is ex-Federal Reserve Governor Frederic Mishkin).

Sunday Comics...beer, pizza and movie night early edition

"I now have no choice but to … call for elimination

 of some very important programs."

"California no longer has low-hanging fruits,"

Julia Boorstin's look just before the director pulls her string.

President Obama: "We'll help stop predatory practices,

and curb unscrupulous lenders, helping secure

 your family's financial future."

Tim Geithner: doesn’t think the European turmoil

will hurt U.S. growth  because

“our economy is getting stronger.

We’re seeing a lot of strength, improvement and confidence.”

Geithner: the U.S. economy is recovering from

the financial crisis “more quickly and stronger

than many people expected. We can take a lot of comfort

and encouragement from the signs of strength

that we’re seeing here in the United States.”

Grandpa finds NO HUMOR in Americans struggling to feed

their family.  Almost 40 million Americans receive

food stamps in order to eat while Geithner continues

to spew "Timmy Talk...when was the last time

he was hungry???

Tim Geithner May 4, 2010: "make sure that the direct costs

of TARP are paid for by the major financial institutions,

not by the taxpayer. " What about the $38 billion Tim??"

Citigroup says it has built up $38 billion in losses.

With the tax exemption, it will be able to shelter up to

$38 billion in future profits. (Richard Drew/Associated Press)

Okay, okay, I admit this is how much I know about the

financial and currency market compared to Rick Santelli

Two years later, Gandalf and Paul Kanjorski —

who by now had spent about 2,000 years in Middle-earth

departed with Frodo, Bilbo, Galadriel, and Elrond across the sea

to the Undying Lands. It was only then that his possession

of Narya, one of the Three Elven Rings, became generally known.

Federal Reserve Senior Loan Officer Survey-What report did CNBC and Steve Liesman receive?

Erin Burnett was giddy as she brought in Steve Liesman noting "first time since 2006" at which Steve (mouthpiece for Bernanke and Geithner) Liesman shared Erin's giddyness however as the Senior Economics Reporter, he is contractually obligated to only dig for and present 1/2 truths. Imagine CNBC not presenting in in depth perspective...Judge for yourself. From grandpa's perspective, CNBC remains the Carnival News Broadcast Corporation.

Federal Reserve Press Release 5/3/2010
The April 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. The survey included three sets of special questions. The first set asked banks about lending policies regarding business credit card accounts for use by small firms. The second set queried banks about the use of loan extensions on commercial real estate loans. The last set asked banks about the effects on their lending standards and terms of the adoption of new accounting standards issued by the Financial Accounting Standards Board. This summary is based on responses from 56 domestic banks and 23 U.S. branches and agencies of foreign banks.

The April survey indicated that most banks kept their lending standards unchanged in the first quarter, but that moderate net fractions of banks further tightened many terms on loans to businesses and households. For almost all loan categories for which the survey indicated a further net tightening of credit standards, the fraction of banks that reported having done so edged down and in a few categories banks eased standards, on net. The survey also indicated that loan demand generally weakened further.

Most of the banks that reported having eased some lending policies in the April survey were large banks. A number of large domestic banks eased standards and some terms on commercial and industrial (C & I) loans to large and middle-market firms. Branches and agencies of foreign banks also reported easing standards and terms on C&I loans, on net. However, standards on C&I loans to small firms were roughly unchanged, and terms on such loans were tightened further over the past three months. Turning to lending to households, large bank respondents eased standards, on balance, for both prime residential mortgages and home equity lines of credit, while other banks tightened standards for both categories of lending. On net, large domestic banks accounted for an easing of standards on non-credit-card consumer loans. In contrast, modest net fractions of large and other domestic banks continued to tighten standards and terms on credit card loans over the past three months.

Domestic survey respondents indicated that demand weakened further for all loan types. A decline in demand for prime residential real estate loans was reported by a larger net fraction of domestic banks than in the January survey, but for other types of loans the net fractions of banks that reported weaker demand continued to wane. Indeed, branches and agencies of foreign banks reported an increase in demand for C&I loans, on net, over the past three months.

Questions on commercial real estate lending. A significant number of domestic banks, on balance, continued to report having tightened standards on CRE loans. However, this net fraction was considerably smaller than in the January survey. As in the previous survey, domestic banks reported weaker demand for CRE loans, on net.

Questions on consumer lending. On balance, domestic banks reported tightening their lending standards and terms for credit cards, but their lending stance toward other consumer loans eased. A small net fraction of banks reported having tightened standards for credit cards, and moderate fractions reported having reduced credit limits and increased spreads of interest rates charged on outstanding credit card balances. The further tightening of standards and terms on credit card loans, however, did not carry over into other consumer loans, as small net fractions of banks reported having eased standards and reduced spreads for such loans. Moreover, the net fraction of banks that reported an increased willingness to make consumer installment loans increased again. As in recent quarters, a moderate net fraction of respondents reported weaker demand for consumer loans of all types.
Link to complete Federal Reserve Release

Okay Steve, tell us about the report you received

Retail Sales CNBC Cheerleader Style....and along comes along Jane Wells with a bucket of cold water

Oh it has been a great day for the CNBC financial news network cheerleader competition. The competition for top cheerleader honors was fierce all day. It appears the euphoria peaked during Power Lunch and Julia Boorstin was clearly in the gold medal round; that is until Jane Wells threw the cold bucket of water on Julia and Steve Liesman (Steve had a lock on the silver medal).

Time to go back in the box Julia

Who they were Vol. 1 of 5: Christina Romer, Ben Bernanke, Larry Summers, Steve Liesman

Christina “Aunt Bee” Romer shares with her best friend Clara that she quietly took night classes during the 8 seasons of The Andy Griffith Show and would soon graduate from The College of William and Mary (Mayberry Campus). Aunt “Romer” Bee noted that losing the jarred pickles competition to Clara for 12 years and her desire to marry were the motivating factors in pursuing higher education. Clara’s relationship waned as Aunt “Romer” Bee completed her Ph. D. at M.I.T. Aunt Bee finally married and is Chair of the Council of Economic Advisors. Clara never married however she ran Vlasic Pickles until its sale to Campbell Soup Company.

Ben “Wooster” Bernanke started his career on the hit television series Wagon Train. He was no good at anything else so while in the Army, he became a cook. “Wooster” was smitten with each week’s celebrity line-up and vowed that one day he too would surround himself with powerful people that made serious money. During his days with Wagon Train, he made sure that each traveler was “bailed out” of any ordeal encountered along the trail and “Wooster Bernanke” proved to be an excellent scout as he could spot a “green shoot” in the midst of a dust storm. He pursued his academic dream and attended Harvard where he bunked with Lloyd “Uncle Fester” Blankfein and after securing his Ph. D. at MIT, became Chairman of the Federal Reserve.

Larry "Spanky" Summers treasured his lead role in The Little Rascals. "Spanky" Summers, the bright youngster opted to leave the show after 7 years and at age 16, enrolled in MIT. Spanky is now Director of the White House's National Economic Council. "Spanky" and "Aunt Bee" Romer meet daily.

Steve "Big Mooseketeer" Liesman (a.k.a. Big Moose) was destined to be in front of the camera and his relationship with Walt Disney assured him a spot in the Mickey Mouse Club. Rumor has it that “Big Mooseketeer” Liesman liked the pretty girls and had a crush on Annette Funicello. Given the age and size difference, viewers started describing the show as a bit creepy. Given the drop in ratings, “Big Moose” Liesman was sent to Russia and became the business editor of the Moscow Times. After 6 years in Russia, “Big Moose” headed back to the states and landed in New York. In 2002, after hearing rumors that CNBC was hiring "dolled up" ex-Mickey Mouse Club Mouseketeers, “Big Moose” Liesman went back to his roots and is their Senior Economics Reporter.