ron insana, , sellinall his dedefensive ocks. i like them. respectftfully disree with a man n i have wched on tv for 20 ars. ter the break, i'll try y to make you even n more mon. >>> ming up, with a big nameme athe s.e.c. on the way outut, cramer reveals h his plafor regulalators to t a leg up on rket manipulation on the "eureka m moment. >>> and lalater, ligning stririkes. cramerer goes eltric tataking allour calls in a spine-chilliling, overarged lighghtning rod. >>> plus, on the execucutive decision, chahatham's enings takes s a hit. so cramer takekes on the ceo to find out i if his stk can ease the pa in your portfolio. all coming up p on "mad ney." oof! i hope he hahas that iurance. you really need it the days. how come? well if you're hurt and cacan't wowo it pays you cash... yeah to help with ererydayills likeasthe mortgage... ...and groriries it's'sike insurance for daily y ng. so...what's s it cle hhhh aflaaac!!!! oh yeah! ththat's i aflac. we've got you under our wing >>> i pick up p the par today. lo at this. i saw that laurie e r

ron insana is t great n to give him the last wo. welcome to ron insana. >> cramer, thanks for havin me the ring. >> hom builders? is there a paper that says is the heuilding industry goi goinng back ever? >> stevie cohen is very fond of it at fac where i used towork. i think, jim, we are in a secular bottn a t of different areasfter this crash in the stockarket. banks, home builders, insur they were tan wn levels in march that we believly low an essentially forecasting utter llapse and chaos. which ion't think will ppen. >> everyday, we hear it's not over, it's not over. >> it's happened. everybody is waiting forhe crash. we had a ash. we h a housing recession in the last twors thas been brutal. i don't think it's over. if you look at tolle and lennar d vnanian, which i own, not e, inclulding tolle is expecting to earn mon until 2010. >> th's a long time. >> buying back ld at cheaper prices after havg taken it off their balance sheet. i thk there's going to be coolidation. i owned centex re i started to writefor thestreet.com d they

insana, like do cast a bear who tned bulul caught what i i think mamayee a generaratialal body, well, weeon't wantoo mimissr dmimi a bigg ll by insana, a anoer g guy westeem highly, the specificscs o this call. he's's slili bristol myers, cio, isisy, microsoft, pfpfiz, time-warner and verizon. alallstocks considers defefense e beuse t ty'y'reot sensitive to interesest tes. and usinggthe c ch h toulk up on the banks, home builders, and insurersrs f h h market movers pofolio. let's s keke a look athese. first, b becsesehis is"the sese block"k"ndnd ion't want you to be oblivivio t tsuch a bullish cacall firsrst haha to say, i digrgr. we alwayays vovor diversified portfolio. that's why every w wen w wplay "am m diversififi?"?" i wouldever advocate getting g rid of all all mydefensives. hohow ououthe individual stock he's kicking outut? i would not sell t t o onewith theacacdentally high ieield atat means you u shldld kpp verizon? spice of thisantiti-binins, antitrust tata from the obama juice department. and i keep bristol myers w wchc my chariritaee trustst already poensitith 3.6% yield.

i hope you listen to the ron insana market movers.ot mean to interrupt. >> caller: unbelievable, jimbo, but, listen, i live in south florida in the epicenter of this real estate gi sadisaster. long story short, i live in a new construction community. my builder is putting up 50 specs in my community as we speak. my question for you, is toll brothers. is this the right play on -- >> no, i agree with ron on the banks. i do not want to buy the home builders. i saw toll had a very interesting -- they said it was news. they've been doing it for some time. the low interest rate product. there are still too many homes being built. in the "los angeles times" housing bottomed and went up on the price for the month in june on big big sales. parts of florida have bottomed, parts have not. i do think you should buy banks. steve in new york, steve? >> caller: booyah, jim. >> booyah there, sport. what's up? >> caller: i want to find out your thoughts on althos therapeutics and find out if it's a good time to stock up on it ahead of the fda announce

cnbc's senior analyst, ron insana, joins us now. ron, what did you hear in the semiannual testimony that changed anything in terms of your outlook? >> well, i think the chairman was quite definite in his handling of questions, many of which, andrea, had little foundation in economic reality or theory. but i think the fact that he suggested that the economy is likely to improve, although like 2001, like 1991, we may experience something of a jobless recovery, was important to note. he also put the ownous back on congress to restore fiscal policy as opposed to monetary policy. they said, we've got these handled. we will rein. in for a period of time. >> and what did he tell you or tell readers of "the wall street journal" in his op-ed today and tell the committee about the exit strategy? how did he reassure the markets about his way of taking money out of the economy once things begin to recover? >> well, i think he very accurately surmized that most people misapprehend, one, the size of these problems as outlined by neil barofsky, th

cnbc senior analyst ron insana joins us now. let's talk about these earnings reports. this is a two-sided sword, because good news is, they're doing better. it can mean that the economy is recovering. bad news, it's politically toxic. >> yeah. i'm less concerned at this point, andrea, as you might imagine about the politics of it. i know it appears unseemly that banks are making, you know, $2 billion or $3 billion a quarter. in the interest of full disclosure, i happen to own bank of america and citigroup, which reported today. by the same token, congress is showing this outrage over the fact that banks that were bailed out are earning money. that's exactly what the bailout program was designed to do, recapitalize the banking system, save the financial system from collapsing, and put banks on a surer footing so they can start lending again. and that's exactly what's happening. bank of america in the second quarter lent out $2.1 billion. i assume that's what everybody wanted. >> well, larry summers, when he briefed today, said that, look, there has been progress, but th

. >>> plus, the nbc seni analyst, ron insana allhere. good day. i'm andrea mitche live in washington. supreme court nomie sonia sotomayor crammingtoday. last-minute practice sessns before her confirmaon hearings start onmonday. democratic sator amy klobuchar serves on the judiciary committeeand joins us now le from mieapolis. great to s you, senator. thanks so much. >> good to be on. >> well, we know w that the witnesses are going to include four klochar -- four klhar -- you're not nominated. for sotomayor, jor league tcher, he'll talk about he help in the judicia rulings endinghe 1995 basell strike. the repuicans are gng to bring out that new haven firefiter, frank risc ree reesh. >> first of all, e's had 17 years as a judge, more an any other minee that's been put forward in00 years. she s someone o has a great background as a osecutor. i'll be focusing al that and some of her judicial decisions that show that pragmatism,hat sh understands wt w enforcement offirs, the decisions theye to make on e front line a how you hav to have tha sense of the

hugh whelan, ron insana.hile, former treasury secretary hank paulson on the hill today under attack. we'll have more on the hearing and mr. paulson's defense of his response to the financial crisis. stay with us. you have questions. who can give you the financial advice you need? where will you find the stability and resources to keep you ahead of this rapidly evolving world? these are tough questions. that's why we brought together two of the most powerful names in the industry. introducing morgan stanley smith barney. here to rethink wealth management. here to answer... your questions. morgan stanley smith barney. a new wealth management firm with over 130 years of experience. >>> welcome back. we want to recap google here. the stock is at 429 and change. the company reported earnings of $5.36 a share versus an estimate of 5.09 on revenue they're coming out with $4.07 billion in revenue versus an estimate of just about 4.06 billion. looked better than expected on a per share and revenue number here for the

joining us now from cnbc, ron insana. ron, let's talk about the broader economy and cash for clunkers. the president's right when he talks about the gdp number. how much comfort can he take in the way the recovery is beginning to -- beginning to take form, let's say, vis-a-vis, unemployment? >> andrea, i'm growing increasingly optimistic that things might be a little bit better than most people realize at the moment. and i have to pardon my casual dress today. if i'd known i was following the president, i might have put on a tie. >> no, it's casual friday. >> casual friday. look, the markets rallied almost 50% off the march 9th lows. we've seen continuing improvement in housing statistics, in a variety of different economic indicators, including jobless claims, which lead the unemployment reports by some weeks, if not months. and now we have gdp at a point where it's likely to turn positive in the third quarter. this cash for clunker deals, despite what the newspapers have said, it's been so successful, day actually ran o

ron insana, michael crofton, we will see you soon. and we have this market at the highs of the day with a 100-point rally in the dow industrials. citigroup, jpmorgan, two dow components not participating, both in the red. >> but some of the other regional banks like m & t which had earnings they're doing fine. >> wells fargo reports this week. it's also higher. >> up next our charlie gasparino, some new insight on the future of goldman sachs and some changes that could be coming its way. all that, back in a moment. have arthritis pain, a du you could end up taking 4 times the number... of pills compared to aleve. choose aleve and you could start taking fewer pills. just 2 aleve have the strength... >>> will we see a goldman sachs atm card anytime soon? on-air editor charlie gasparino spoke to a senior goldman official today. charlie, goldman sachs has come under a lot of pressure as of late, some of it from you, by the way, for profiting from risk while being a commercial bank and having access to the fed. >> couldn't happen to nicer

ron insana, welcome to "mama money." >>ramer, thanks for havingng me in the ring. >> home builders?s thehere a per that says is the home b blding dustry going back er? >>>> that'why i bought them. stevie cohenen is ve fond of it at fac where i used d to work. i think, jim, we a are in secular bobottom ia lot of different areas after ththis cra in the stock m market. banks, home builders, ininsurers they were takeken down lels in mah that were unbelievabably low and essentiaially foresting utter collapse andndhaos. which i don't t ink wi happen. >>very day, we hear it's'sot over, it's not o over. >> i is alrey happened. evevybody waiting for the ash. we had a crashsh we had a housising recsion in e last two years that't'been brutal. i don't think it's ovever. if you look at tolol and lnar and vnanian, which i own, nonot one, e exceptor tolle,s expecting to earn n y mone until 2010.. >>>>hat's long time. >> buyg back land at cheaperer prices aftfter havg taken it off of tir balance sheet. i think there's goining to b consolidion. i owned centntex befori started to writete for tstreet.

n insana is too great t nototo giveimimhe last word. welcome to r r i insa. cramer, thanks for hahangng m in the ring.g. >> home builders? is there a papererhahat ys is the hohome bldldg industry going g backveve >> that't's whi i ught them. >>>> stee e hen is very fond of it at fac where i usededo o wo. i think, jimim, a aren a seculalar boomomn a lot of dierert areas after this crarash inhe stock market. banks, home buildersrs, inrere, ththeyere taken down levels s rch that were unbelievevab l low and essentiaially reresting utter collapse andndhahaos whicich dodon'think will happen. >> every day, we hear itit's n over, it's n notvever. it's happened. everybody is waitingng forhehe crash. had a crash. we had a housising reseson in the e la t twoears that's been brutal. i dodon'ththinit's over. if you look at tolle a and lnana and hovnanian, w wchch iwn, not one, except for r it. olle expecting to earn momoy y unl 2010 t thas a long time. buying back land at cheheaper prices after h havg g tan it off ofofheheiralance sheet. i think there's gogog g toe consol

>> i've been having a debate on real money.com, ron insana has been taking shots at me because he camen with his market movers to say buy the home builders and i dissed him. he went like this home builder. i went like this home builder. i'm starting to be on shaky ground. here's the truth. you're absolutely right. i think the untold story about the housing decline was the end of immigration. you reverse immigration you'll get house price appreciation. market mover is going to be right and cramer will be left being too negative. it's been a long time since someone has called me too negative on the housing situation. how about sherry in california? >> caller: yes? >> you're up. >> caller: hey. >> hey. >> caller: big boo-ya from sunny california. >> holy cow. let me give you an sc boo-ya. >> caller: i am really interested as an rn on this health care legislation. >> right. >> caller: that obama is trying to pass as i think that health care is a right not a privilege. and i got some health care less than a month ago and it's up 31% but i wonder if it's a good time to pick some up, if it wi

i'm joined by rob insana cnbc contributor and portfolio manager of the street.com's market movers along with mike larson research analyst with weiss research. gentlemen, good to have you on the program. welcome. can you assess the housing market once again? where are we right now in this down psy down sequel? mike. >> sure. i think we're at the point where we're finally seeing some stabilization. sales rates have started to pick up in some of the hardest high hit areas. int ventries are starting to come down in those same areas. i think we'll probably start to seek some weakness in pricing. but after being raging bears for years on housing we're a lot more sanguine about the state of the market today. >> ron, do you agree with that? >> yeah, i'm absolutely in the same camp. i would like foreclosure in a certain way to short covering in the stock market. the housing market has been oversold, there is some pent-up demand and housing prices have now fallen to the level that stimulates buying. it's at the level of a foreclosure purchase as opposed to people paying up for housing, but you ne

weighing in, jordan kimmel, market strategist with national securities and my old friend ron insana thestreet.com'snager and of course a cnbc contributor. ron, let me start with you. the dollar index is sitting near the lowest levels since october. is the weaker dollar actually a sign of strength for the u.s. economy? >> it certainly is a sign that fed policy's working, bob. the dollars that have been created by these numerous programs from the federal reserve, you know, are starting to circulate. and that's important. we've seen the money supply measured by m-2 grow about 8%. the broadest measure of money is up even more. but what hasn't happened yet, and the reason maybe the ballooning of the money supply hasn't gotten a lot of traction yet is the velocity or the turnover of money hasn't been all that fast. i think as the dollar weakens it will actually accelerate the economy's growth. remember what happened in japan in the 1990s. the yen went up dramatically. and that was like a tightening of policy. and that kept deflation in place. this is just the opposite. >> and jordan, the decline of the u

but roron insana t the street.cs market movers s rtrtfoo manager an cnbc contributor sayss the tata is premataturhe current plpl in factneneed to be rerkrked and this is acontinuation of a conversasaonon, dies and gegentmeme that i u uererstd got quite heededast week.k. >> oh, itit wa civil, i thohou. >>>> it wawas vivi and heated.. could be the same ----ron, make your case. why do we not neeee a second d stimulus right n now >> wewe,,he first hasn't been spspen and there's been $787 billionpppprod for stimulus measures that i think couldld b puededp, as i said a cououe e days agag into a payroll wiwithlding tax holiday that could lasta a ye or wowo, it esesmmediately into the pocketetokoks workersrsf a ininco bbraet, ananitit wld more likelely s snt now that thsavings rate'e'bebeen plenished. e e hiest rate we've s see in the e s.s. is 11%. we're close to 7%. i think it wldld b wise t t ll thatat meyey forward and tt withholding taxes so t tha peope fefeel l litee bit more comfororblble at their paychecks are large enough t toupuppo them. s smake the case. you think that wee do need a

and on the other side of the argument is ron insana, cnbc's sxrisht portfolio manager of thestreet.com's market movers. good to have you on the program. 'll welcome, gentlemen. >> thank you. >> neil, let me begin with you. you are the nrf's chief health care lobbyist. tell me why you oppose walmart's employer-backed mandate. >> well, it's quite simple. our members are frustrated with walmart. we're not wanting to buy what they're trying to sell when it comes to health care reform. specifically we don't think you need an employer mandate to get to universal coverage for everybody. >> ron, you're on the other side, supporting walmart and an employer-backed health care mandate. why is that? >> well, it's interesting, maria, one that now congress is looking at this as a vital option, something that hillary clinton proposed during the campaign. i think that of all the possible options here, whether it's taxing the wealthy or a government-run plan, an employer mandate makes the most sense here. i'd love to see walmart's formidable negotiating powers turned loose on health care. they've held co