Steve Liesman

Is he as stupid as he appears or is he Lies man? Santelli regularly cleans his clock and he remains unbowed. There was a refreshing guy on a few weeks ago, a very sharp banking guy from Institutional Risk Analytics, Christopher Whalen, not your typical CNBC guest. He slammed the dopey Liesman with the facts so hard that Liesman looked like a steer hit with a sledgehammer. Liesman looked around at Faber and Kernan and said comically, "Help me out fellas!" Can you imagine? He's delusional. This stuff is not funny.

Anyway, there is no reason for me to bail out of ECU or TRE. If I go down with these two companies, not much will be left standing. The old expression was, "As GM goes, so goes the country"... and GM doesn't look good.