Hotline After Dark -- Use The Good Crystal

"World News" led with swine flu. "Evening News" and "Nightly News" both led with Fed Chair Ben Bernanke seeing signs of economic recovery.

Bernanke's assessment was met with some skepticism.

CNN's Dobbs: "This is the Federal Reserve chairman's most optimistic assessment of the economy since this recession began almost a year and a half ago" ("Lou Dobbs Tonight," 5/5).

Wall Street Journal's Moore: "Ben Bernanke does not have a crystal ball. He is not the oracle. In fact, I would make the case that Ben Bernanke and Alan Greenspan -- those two were probably more responsible for the financial meltdown than any two human beings on the planet. ... So when Ben Bernanke says everything is just going to be fine, I'm not so sure. I mean, after all, he was caught with his pants down when the financial crisis hit back in September" ("On the Record," FNC, 5/5).

Johnson Illington Advisors' Hugh Johnson: "It's hard to make the case that the economy is going to expand, an economy which essentially grows on money and credit, when bank lending is slowing. It's still not the case. ... And unless we start to see bank lending start to improve, it's going to be very hard to make the case for an expanding economy. I think we're a long way from that point, and that's the number-one thing that worries me."

More Johnson: "There's nothing worse than raising expectations too high and then having to deal with the disappointment if the economy isn't as good as you've led those expectations to believe. I think they're doing a pretty good job. Both the president and Chairman Bernanke, especially Chairman Bernanke, is really kind of telling it like it is" ("NewsHour," PBS, 5/5).

More after the jump, including an interview with Pakistani Pres. Asif Ali Zardari.

(KATHERINE LEHR)

CNBC's Bartiromo: "Of course it will turn around. This year I think it's a reach. I think it was ladened all day, the speech that he gave. ... It's anybody's guess. I don't have a crystal ball, nor does Bernanke. But I think that at some point we get out of this, it will be tougher before it gets better" ("Ed Show," MSNBC, 5/5).

Economist's Ip: "I think the bigger risk for the Obama administration comes six months to a year from now when the economy may have stopped shrinking, but unemployment will still be high and, in fact, possibly still rising. And people by that point will be very impatient in wanting to see more in terms of results from all the fiscal stimulus and the money that's been poured into the banking system."

More Ip: "And, by that point, [Pres.] Obama will no longer be able to say, 'Hey, this is the mess that I inherited.' It will be his mess. And he will not have a lot of other tricks up his sleeve that he can throw at this economy. That, I think, will be the real challenge for expectations management" ("NewsHour," PBS, 5/5).

I GET BY WITH A LITTLE HELP FROM MY FRIENDS

CNN's Blitzer spoke with Zardari, who will be meeting with Obama today.

Zardari, asked why Pakistan needs assistance from the U.S.: "This is our problem, this is our situation, this is our issue. We will solve it. By bringing in democracy, by electing me as the president to Pakistan, the people of Pakistan have voted. They have said yes to democracy and no to the Talibanization of Pakistan. So we are solving this problem, and we shall."

Zardari, on Obama saying Pakistan's obsession with India as its mortal threat has been misguided: "Democracies have never gone to war. No Pakistan democratic government has gone to war with India. We've always wanted peace. We still want peace with India. We want a commercial relationship with them. I'm looking at the markets of India for the ... industrialists of Pakistan and am hoping to do the same. I'm waiting for the elections to be over so that all of this rhetoric is over and I can start a fresh dialogue with the Indian government."

Zardari, asked if he wants U.S. troops in Pakistan: "I don't think the U.S. troops want to come to Pakistan. ... I'm open to the fact that we need more equipment, we need more intelligence equipment, we need support. ... But not personnel. I don't think personnel are necessary. They'll be counterproductive."

Zardari, on Defense Sec. Robert Gates saying he's open to listening to what Pakistan needs: "I'll take it on first value and go with it. I'll run with it and ask for more help. ... We've been asking for a lot of help, and it has been in the pipeline for a long time. And I'm not here to, you know, point fingers at anybody. I'm here to get more support for democracy, get more support for the war effort."

Zardari, asked if he has confidence in Obama: "I have confidence in the American system. I have confidence in the democracy in America. And definitely, I have hope in Obama."

Zardari, on the current U.S.-Pakistani relationship: "I think our relationships are pretty strong. I think it needs more effort. I think it needs more understanding on both our sides, and we need more interaction. But I think our relationship is pretty strong."

Blitzer, on JCS Chair Mike Mullen: "He said he doesn't even know, and he is the top U.S. military officer, where Pakistan's various military, nuclear components are spread around. Is that information you're willing to share with the United States?"

Zardari: "I don't think so. I think it's on a need-to-know basis information."

Blitzer: "If there were a coup in Pakistan, you would blame the United States for that?"

Zardari: "I would blame all the democratic forces in the world. And we always have."

Zardari, asked if he's concerned about U.S. support for Pakistan right now: "I am concerned to the fact that I want more support. I am thankful for the support that I got and thankful to the people of America to give their tax dollars to us but I need more support. ... I want to make a case with the world and the United States and the Congress and the president of America that, look at us, see what our weaknesses are, and decide for yourself what do we need?" ("Situation Room," 5/5).