So, in a nutshell, Ben Bernanke said some things and then the markets tumbled.

But in the run-up to the Fed chairman speaking at a press conference this afternoon, following the Fed policy committee’s two-day meeting, the cable business networks spent hours discussing what he might say and what it might mean. The award for the most bombastic conversation of the day  (and isn’t that what it’s about?) goes to CNBC’s Rick Santelli and the Wall Street Journal‘s chief economics correspondent Jon Hilsenrath. I’m starting to think Santelli doesn’t really cotton to the economics types.

Santelli said Hilsenrath, and other Fed reporters, ask softball questions at Bernanke’s rare press availabilities. Hilsenrath called out Santelli for being a doomsayer.

“Part of me holding people accountable is holding people like you accountable, Rick” said Hilsenrath. “Good. Ask me anything pal,” Santelli shot back.

Watch after the jump…

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25-54 demographic (Live +SD)

• Total day: FNC: 207 | MSNBC: 93 | CNN: 84 | HLN: 83

• Primetime: FNC: 238 | MSNBC: 147 | CNN: 104 | HLN: 95

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On “CBS This Morning,” correspondent Mo Rocca presented a story about the 60th anniversary of Mad Libs.

The folks at Mad Libs decided to repay the favor by creating a special edition of the game based on the CBS morning show. Gayle King tweeted a photo of the “CTM” Mad Lib. Check it out after the jump, or watch Rocca read it below.

WATCH:

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• Univision is partnering with Penske Media to incorporate Hollywood trade magazine Variety into its newsmagzine “Primer Impacto.” “Variety en Primer Impacto” segments will focus on Latino stars and talent in Hollywood.

• The second season of ESPN and ABC News digital program “In the Game with Robin Roberts” debuts June 20. Interviews this season include race car driver Danica Patrick and Olympic gymnast Gabby Douglas.

• AP CEO Gary Pruitt lays out “5 measures to ensure press freedom.” They include a “robust” shield law, judicial oversight of the DOJ and new guidelines that take into consideration modern technology.

A relatively slow week for cable resulted in relatively low ratings. USA Network, which had new episodes of its Summer series, was the top cable channel in primetime, while Fox News remained the top cable news channel. MSNBC actually topped CNN in both primetime and total day for the first time since the Boston bombings in April.

You can see the full cable network ranker below.
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Fox News host Sean Hannity is the subject of this month’s interview in Playboy magazine (potentially not safe for work link). While the bulk of the interview is about Hannity’s politics, there is also some TV-related questions:

PLAYBOY: What ended Hannity & Colmes?

HANNITY: We were at the point where the format was problematic. Let’s say we had an eight-minute segment with one or two guests. Colmes and I would get in maybe one question each, and then you’re fighting to get your words in. We just felt that it had run its course, and he was happy to go to Fox News Radio.

PLAYBOY: How often do you see Rupert Murdoch?

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On Howard Stern‘s radio show this morning “Today” show anchor Matt Lauer talked about what newspapers he reads on his way into work.

Lauer mentioned the New York Times and either the New York Post or Daily News. Lauer, of course, was a key figure in New York Times reporter Brian Stelter‘s book ‘Top of the Morning’ which documents the morning show wars. The first third of the book is about the long rise and turbulent fall during the last year at “Today.”

So what does Lauer think of the Times:

Lauer: Well, you know what, I think it’s still a great newspaper. I think that in my personal opinion – we always deal with these things based on how they have treated you personally, and I think there has been a little erosion in some areas as of late. Overall are they still a great newspaper, as is the Wall Street Journal, which I also read in the morning?

Stern: You mean the way the New York Times treats you is going to, sort of —

Lauer: Not only me personally, but the show, the industry, the way they cover television. If I think it’s unfair, if I think at times it’s been a little lazy, then it absolutely affects my opinion.

Stern: Will you ever call someone at the the New York Times and say ‘I think you’ve been lazy in this area’?

Lauer: No, no, no. I don’t call back people – I’m not a complainer, that’s not what I do.

Stern started the conversation by asking Lauer if he likes to read. Lauer responds, “I love to read, although I’ll be honest with you: because I have to read so much for work I’ve lost a little bit of the love of reading for pleasure. I think that’s something I’m going to really dive into when I’m not doing this job anymore.”

(h/t Romenesko)

With season two of HBO’s “The Newsroom” right around the corner, The Hollywood Reporter reveals that HBO and Aaron Sorkin put together an all-star list of paid consultants to help make the show as “real” as possible.

Among the notable names: MSNBC host Chris Matthews (whose son Thomas Matthews is an actor on the show), CNN anchors Ashleigh Banfield and Natalie Allen (CNN is a sister network to HBO), MSNBC’s S.E. Cupp and Alex Wagner and former CNN and MSNBC president Rick Kaplan. The full list is here.

“I’ll be coming to you for everything from simple research questions to: ‘What kinds of conversations would there be about how to cover Trayvon Martin? Sandra Fluke? The contradictory stories about the circumstances under which Bin Laden was shot?’” he wrote in a lengthy welcome note to the group last fall.

THR also wrote a lengthy cover story about season two of “The Newsroom.” You can read it here.

Alphonso Van Marsh is joining CBS News as a correspondent for News Services, the newsgathering service for CBS stations and broadcasters around the world. London-based Van Marsh spent a decade reporting for CNN, where his assignments took him around the world. Marsh broke the story of Saddam Hussein’s capture in Iraq, earning him a 2004 National Headliner Award. After leaving CNN, Marsh was freelance correspondent in Cairo for NBC News. The California-Berkeley and Medill Graduate School alum began his broadcasting career in 1994 as a Correspondent for Medill News Service in Washington.

The official trailer for “Anchorman 2″ has been released, and Ron Burgundy is back — in the 1980s. Burgundy and the gang have transitioned from local news to a 24-hour news channel to do “the thing that God put Ron Burgundy on this Earth to do: have salon quality hair and read the news.” Watch: