So, there was a slightly awkward segment at the end of Street Signs this afternoon, wherein Erin Burnett had to cut a bitch (/guest) who was apparently “being a prick even by finance/CNBC standards.”

Here’s the clip and a transcript, for those who want to read along.

Erin: american borrowing is up about 70% since — because of the all the borrows, t.a.r.p., stimulus, you name it. while our borrowing has been surging, lenders seem to trust it will we’ll pay it back. in fact, while our borrowing has surged, interest payments have dropped by nearly 20%. as a share of our economy, we’re paying less in interest payments than when bill clinton was running surpluses. is it the calm before a storm of surging borrowing costs? are we about to go junk credit? michael pento is vp of europe capital, and fixed income strategist, our second speaker says no way. at least right now, we don’t appear to be the world the market sets borrowing costs and interest costs —

Michael interrupts Erin: well, the fed is setting the borrowing costs. let’s be honest they’re controlling the whole yield curve. they’ve duped the rest of the world. that’s going to rise to $14 trillion at least by 2015, that’s not me saying that, that’s the omb, the cbo, the department of treasury. that means instead of paying 5% of all federal revenue on interest expense, we’re going to be paying 30% at a bare minimum in just a handful of years. unless you believe that the chinese, who have stopped buying our treasuries, and you believe the japanese will have unlimited savings to purchase our treasuries, which they don’t, we’re going to rely on our own savings, which is very, very small, so interest rates must rise dramatically. that’s the only thing that’s giving the understand any semblance of solvency.

Erin: joseph, what’s your response? he’s saying they’re going to surge.

Joseph: i think it’s a long-term problem to worry about today. let’s face is, we are the safe haven. from corporations from government government entities look at a day like today, the canary in the coal mine is there. it’s the currency, until such time as our currency goes down on bad days, we will remain the safe haven and demand for our debt will be there. and house prices will continue to go up until they don’t, but when they do, it’s too late, and it will be a debacle.

Erin: it still comes down to this, until someone else is better with a deeper, smarter, better labor pool —

Michael, interrupting again: why is that?

Erin: — because they have to put their money somewhere. please let me finish the question, okay? where else would they put it? right now they’re voting with their dollars, with their yen and putting it in u.s. treasuries —

Michael, interrupting again: do they have to go into treasuries? commodities? international?

Erin, cuts Michael off: what i’m telling you is they are going to commodities. you need to explain —

Michael: they have stopped buying commodities —

Erin: they actually haven’t —

Michael: — they have been in a series of months declining their participation in the u.s. treasury market…

Erin: michael, michael —

Michael: …and now 62% of reserves.

Erin: let me finish my case. you have to make the case, which they are, people are putting money in treasuries, if they weren’t interest rates would be going up. you have to make the case why those rates will surge.

Michael: the treasury has influenced the whole yield curve lower, but you have to explain if we have a publicly traded debt that’s going to be over 75% of gdp in a handful of years, why do you believe the entire world with squander their savings into the u.s. dead market forever? why do you think the u.s. dollar will always be the world’s reserve currency? the onus is on you to explain that.

Erin: no, i am the moderator of the conversation.

Michael: the u.s. bond market is the most overpriced —

Erin: michael, you are so rude.

Michael: — currently in existence.

Erin: you have definitely gotten my temper up, you have been rude in this conversation and i have done nothing but ask you questions. joseph, please let me give you a chance to say something before we wrap up this conversation.

Joseph: sure. the question is our treasury’s in a bond bubble. the really is nothing in a bubble which people want to buy it. there are legitimate reasons when they have to buy the u.s. government debt. economic growth is fairly slow. when you are the safe haven, when you are the largest economy on the planet, when you are the world’s educator, when you are the technological advancer, people want to own your debt, and we will remain that safe haven.

Michael: and by that time, it will be too late.

Erin: thank you very much. joseph, michael, if you’re going to come back on the show, please by a little more polite and gracious about how you present your points of view, okay?

64 comments (hidden to protect delicate sensibilities)
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Comments (64)

  1. Posted by Chuddy | September 7, 2010 at 7:25 PM

    no one fucks with Erin…Erin does the fucking!

  2. Posted by I saw and I was impressed | September 7, 2010 at 7:27 PM

    Completely awesome interview — what an ahole. He got what he deserved. It wasn’t that he was wrong (he isn’t), but he definitely needs to get some media training.

  3. Posted by anon | September 7, 2010 at 7:28 PM

    ahhh video, video! I wanna see Erin all angry!

  4. Posted by Choadely's WIllards | September 7, 2010 at 7:32 PM

    I bet she got so turned on by all of that adrenaline. She was probably only a step away from clandestinely humping a highlighter.

  5. Posted by Shallow Thinker | September 7, 2010 at 7:36 PM

  6. Posted by Guest | September 7, 2010 at 7:37 PM

    Aw shits. Now I can’t think.

  7. Posted by Guest | September 7, 2010 at 7:44 PM

    He doesn’t need her! She’ll come crawling back when she finds out he’s cast as the lead in Goodfellas 2.

  8. Posted by Slim1601 | September 7, 2010 at 7:45 PM

    Erin, get a backbone. If you want to play in the game, you can’t act all crushed when someone rudely interrupts you or talks over you.

  9. Posted by Jeff Spicoli | September 7, 2010 at 7:49 PM

    What a dick!

    -Jeff Spicoli
    Managing Partner
    Bogus Capital Advisors
    Ja Jolla, CA

  10. Posted by anon | September 7, 2010 at 7:49 PM

    Agreed. There goes my ability to conentrate on anything else for the rest of the day.

  11. Posted by P&T | September 7, 2010 at 7:50 PM

    We might be interested in Michael’s confrontational personality.

    Tullet and Prebon Diversity Committee

  12. Posted by LOBrow | September 7, 2010 at 7:53 PM

    I think his eyebrows were perfect. Almost too perfect. Hmmmmm…..

    ~L. O. Brow
    Center for Uni-brow Studies
    Waxing, NJ

  13. Posted by BH | September 7, 2010 at 7:56 PM

    Michael is exhibiting the classic signs of being on the wrong side of a trade.

    Brian H
    Fuel&Shrink, Alberta

  14. Posted by Etienno | September 7, 2010 at 7:57 PM

    She’s an idiot.

  15. Posted by Guest | September 7, 2010 at 8:02 PM

    At least it’s near the end of the day…

  16. Posted by NakedShort | September 7, 2010 at 8:03 PM

    I will now proceed to blow up all of Michael’s trading book. How dare he.


  17. Posted by Ping_My_Pang | September 7, 2010 at 8:05 PM

    He who interrupts, deserves a whiteboard marker.
    -Ping Capital

  18. Posted by ZardoZ | September 7, 2010 at 8:09 PM

    erin – what a pussy

  19. Posted by plang | September 7, 2010 at 8:10 PM

    cnbc business news has needed a complete makeover for years starting with the whining idiot cramer…

  20. Posted by trojan | September 7, 2010 at 8:10 PM

    Skeeter: What happened to him, Doctor?
    Dr. Doctor: He got served. Worst I’ve ever seen.
    Jimbo: Old fool went down to the OC to try to reason with the other team, and he got served up somethin’ fierce.
    Chef: Oh Lord…
    Randy: [his voice raspy] His dancing was so fast I …couldn’t do anything. His moves were… so original, so inventive. [winces] Ungh! Grrgh.
    Nurse: Shh relax, Mr. Marsh.
    Dr. Doctor: We just got the X-rays back. He mostly got served here and here. But the worst serving was here in the pelvic region. The road to recovery will be a long one.

  21. Posted by Charlie's intern | September 7, 2010 at 8:15 PM

    Later that day at the psychiatrist’ office…

    Michael Pinto: I went to see Mrs. Burnett today and she said I was a bad boy.
    Dr. Jennifer Melfi: Well, in the future, I’ll ask that you extend to her the same courtesy you would a crack addict.

  22. Posted by Dr. Rosenrose | September 7, 2010 at 8:20 PM

    Pinto is a huge douche. Surely cnbc can find a guest that looks slightly less like David Gest.

  23. Posted by HotelReceiptGuy | September 7, 2010 at 8:22 PM

    Hotel Angst
    345 W. 423rd
    NY, NY 10019

    Guest: Pinto, M
    Suite: “Margin Call”
    Rate: $1600/day
    Charges to Room:

    1 btl “Roger Clemons Hot Testicle Linament”………………..$ 22.00
    Video: “The History of Tullet Prebon”………………………….. 35.00
    Movie in Room: “Network”……………………………………….. 11.00
    Movie in Room: “Anger Management”………………………… 11.00
    Movie in Room: “Raging Bull”…………………………………… 11.00
    Special Ice Tray for DeNiro-like “ball soak”………………….. 44.00
    Megaphone for Yelling at pedestrians from Room:……….. 128.00
    Meatball Sandwich………………………………………………… 22.00
    One Person, full body “Hyena” Suit…………………………… 223.00
    Local actor to portray wounded Wildebeest………………….. 200.00
    Rick Santelli “Pump ‘Em Up” Tea Party Quotes…………… 76.00
    Hotel Employee to Receive “Indian Fire” Arm Twist………. 200.00
    Non-anesthitized nipple piercing………………………………… 375.00
    Book: “Liesman is a Pussy” by Santelli……………………… 44.00
    Guide: “Treating Unsightly Eyebrow Rash”………………….. 12.00
    Internet Download: “I Went to Darden Bitch”………………. 1.00
    Jalapeno Toothpaste……………………………………………. 9.00
    Discovery Channel Guide: “Why Monkeys Have a Red Ass”: 27.00
    Butt Chapstick……………………………………………………… 6.00
    Book: “Rude is How They Say ‘Road’ in North Carolina”…. 21.00
    Book: “Nice Guys Finish Last”………………………………… 18.00
    Kenny Powers T-shirt……………………………………………… 27.00

  24. Posted by Mitch Cumstein | September 7, 2010 at 8:30 PM

    What’s with the snowman eyes?

  25. Posted by ChicagoChick | September 7, 2010 at 8:35 PM

    I read Liesman is a Pussy! Great read! Tremendous

  26. Posted by Fdsafd | September 7, 2010 at 8:38 PM

    Who is Michael Pinto? You mean Pento?

  27. Posted by Budnovin | September 7, 2010 at 8:43 PM


  28. Posted by Anonymous | September 7, 2010 at 8:43 PM

    Is that a Stripes of Pride™ shirt he’s wearing?

  29. Posted by otis day | September 7, 2010 at 9:30 PM

    agreed – cnbc would be (slightly) less horrible if the hosts didnt inject their worthless opinions into conversations with guests. erin, read the telepromter and then STFU please!

  30. Posted by Guessed | September 7, 2010 at 9:47 PM

    Borderline twink-looking.

  31. Posted by Erin B. | September 7, 2010 at 10:48 PM

    I’m just a moderator (read “moron who reads the teleprompter”)

  32. Posted by guest | September 7, 2010 at 11:47 PM

    “I’m the moderator” quote still can’t compare to when Erin was in China this past spring and kept gushing how all the locals wanted their picture taken with her because she was the first white woman they had ever seen in person. She kept saying this for several days until she finally modified it to “western woman”.

  33. Posted by Ssss | September 7, 2010 at 11:49 PM

    That guy is freakish looking. Why in the hell is allowed on TV looking like that in the first place?

  34. Posted by Master Baitor | September 8, 2010 at 12:43 AM

    You are a smelly pirate hooker. Why don’t you go back to your home on whore island. I’m a man who discovered the wheel and built the Eiffel Tower out of metal and braun. That’s what kind of man I am. You’re just a woman with a small brain. With a brain that’s a third of the size of us. It’s science.

    Michael Pento

  35. Posted by Finn2lazy2logN | September 8, 2010 at 1:55 AM

    He wins on substance, she wins on looks.

  36. Posted by Bullish_on_Shit | September 8, 2010 at 1:58 AM

    Yes, all of those “moderators” have to interject when the guest is not making a “bullish on everything” case. I do not know why our boss makes us watch such crap. I would rather just stream BB radio, or listen to Britney Spears than CNBS. If I wanted everything to be great, I would just eat some extacy before work.

  37. Posted by Ssmith | September 8, 2010 at 2:12 AM

    But he’s right.

  38. Posted by Ssmith | September 8, 2010 at 2:14 AM

    Because he’s right

  39. Posted by Ultralong | September 8, 2010 at 2:23 AM

    we used to have it on w/o the sound… now we just watch golf all day
    when i go on vacation and end up watching it, it makes my eyes bleed

  40. Posted by Ignora_mouse | September 8, 2010 at 2:59 AM

    I have one question to help me make sense of all this. Anal_yst, as someone who is used to being “filed under c*cksucker”, what is your view on Pinto, USD, Treasuries and length vs. girth?

  41. Posted by Felton Grabder | September 8, 2010 at 3:09 AM

    If he’s “right”, why would he tell anyone? He could be like Bass in Dallas and make shitloads of money himself.

  42. Posted by HitEleven | September 8, 2010 at 4:34 AM

    Read this strange story about a software company involved in “targeted marketing”, and the manager there who wanted to be a fiction writer:

  43. Posted by Avis Austin | September 8, 2010 at 5:54 AM

    I bet she got so turned on by all of that adrenaline. She was probably only a step away from clandestinely humping a highlighter.

  44. Posted by Guest | September 8, 2010 at 8:24 AM

    Keep fantasizing Burnett has anything but two jellybeans under there….

    He asked sound questions and she lacks the intellectual depth to respond.

  45. Posted by Guest | September 8, 2010 at 12:45 PM

    he was an ass, just like you

  46. Posted by Jackrodshaw | September 8, 2010 at 12:59 PM

    yup, she’s thinks her shit dont stink

  47. Posted by twnyc | September 8, 2010 at 2:32 PM

    whoever wrote that transcript totally fked it up. Erin, cuts Michael off: what i’m telling you is they are going to commodities. you need to explain –

    she said treasuries. not commodities.

  48. Posted by Theis | September 8, 2010 at 6:24 PM

    CNBC should fire Erin. I am interested in what the guests have to say. How does CNBC get away bringing on a guest and not allowing them to speak and constantantly interrupting. how about allowing an appropriate amount of time to allow the response without moderator interruption? how about sending moderators Maria B and Erin B to speech therapy to help them with their speech impediments and stammering and thereby allowing more seconds for guest opinions.

  49. Posted by Gajonka4 | September 8, 2010 at 6:27 PM

    Good for Erin – she is sexy when she’s irritated. Very Sexy baby.

  50. Posted by Adnmoh1 | September 8, 2010 at 7:01 PM

    im on mikes side, the bitch should been slapped.”people are buying comodoties” my ass, this over priced inflated pos.

  51. Posted by Adnmoh1 | September 8, 2010 at 7:03 PM

    sorry commodities typing with one hand and clicked the channel with the other.

  52. Posted by Gary | September 8, 2010 at 7:35 PM

    She needs to make a decent argument if she is going to say she knows something. moderators are just to ask questions not out in there two cents worth. Unless she is prepared to defend her position she clearly was not. Then she back up and says i ask the questions not answer them. Not very professional on her part. She needs a good education in Austrian economics vs. the Keynesian economics all the business and economics schools teach now.

  53. Posted by Jimeast123 | September 8, 2010 at 7:56 PM

    cnbc has the hottest babes. Pento is rude but he’s right. The other guy actually said bonds aren’t a bubble because people are buying them that’s like saying real estate wasn’t a bubble because people were buying houses.

  54. Posted by Jimeast123 | September 8, 2010 at 8:11 PM

    Looking at it again he does have an abrasive personality and looks scary but she was the one that was actually out of line she wasn’t just the moderator she was making her own point. She’s still hot hot hot!

  55. Posted by Maryanne | September 8, 2010 at 8:54 PM

    maryanne says: Comments total Erin 55……Maria 36. Tell you sumthing

  56. Posted by Guest | September 9, 2010 at 7:49 PM

    And THAT is why she is the future of NBC!

  57. Posted by Erin's got no argument | September 10, 2010 at 7:27 AM

    What you left out in your selected transcript was Erin interrupting Michael first a number of times. Erin’s name calling indicates she has no good arguments.

  58. Posted by Erin's got no argument | September 10, 2010 at 7:28 AM

    I would add that she is certainly good eye candy.

  59. Posted by Northhp27 | September 11, 2010 at 12:54 PM

    CNBC response t Michael Pinto reflects the hostility the moderators have to guest that are trying to explain the truth to the American public. Arn’s now claims she is just a moderator.. Maybe they need to replace her with someone who has a background in world finance and instead of a wide nose snorting talking head who melts down when challenged with opposing views.

  60. Posted by Terima | September 12, 2010 at 5:56 AM

    Erin is a chutiya laundi. Mike’s the man (and his shit is spot on… err.). Erin is just a media bitch trying to shovel the gang approved “truthiness” down our collective throats. Stop being the bitch Erin and eat some shit.

  61. Posted by Terima | September 12, 2010 at 5:56 AM

    Erin is a chutiya laundi. Mike’s the man (and his shit is spot on… err.). Erin is just a media bitch trying to shovel the gang approved “truthiness” down our collective throats. Stop being the bitch Erin and eat some shit.

  62. Posted by Terima | September 12, 2010 at 5:56 AM

    Erin is a chutiya laundi. Mike’s the man (and his shit is spot on… err.). Erin is just a media bitch trying to shovel the gang approved “truthiness” down our collective throats. Stop being the bitch Erin and eat some shit.

  63. Posted by Umgr | November 12, 2010 at 10:42 PM

    DUDE REALLY??? Nose lover i guess…what a Snoooooooter on that cow…lol

  64. Posted by Bill Williams | October 6, 2012 at 11:31 PM

    Lead guitar, former touring guitarist for Seven Mary Three – Mammoth/Atlantic, and Vonray – Elektra Records. James Woodrich – Bass guitar, formerly of My Hotel Year – Doghouse Records. Scott Smith – Drummer, formerly of Cori Yarckin and newest member of the band joining in March 2007.