Market Update: Santelli vs Liesman on Tea Parties, Fed’s Plan: Boost for Housing…

Midday and GOLD is back up to 900, heh. DOW down 73 to 8009, S&P down 4 to 852 and NAS down 13 to 1638. Methinks this Bear Rally is almost over and the precipitating event to kill it will be bank earnings this week. Lots of pushback on the Wells earnings report last week suggesting they do not have enough in reserves, thus their numbers…the ROY that Treasury told GM to have its bankruptcy paperwork ready for the end of June is a drag today as well…..

Watch all the way, at the end, Kudlow brings up the Tax Day Tea Party Movement and Steve Liesman  gets obnoxious (Gee defensive much Steve? LOL!) and Rickster fights back….

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Airtime:
Mon. Apr. 13 2009 | 8:41 AM ET

Debating whether the Fed’s mortgage program has given the sector a boost, with CNBC’s Rick Santelli & Steve Liesman.

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