Serious Startup Problem

First post plus im a newbie @ building a pc.
Here are my specs to start off:
Asus Striker Extreme
Antec Powertrio @ 650 watts
corsair dominator 2gb
soundblaster xfi fps
e6600 intel core 2 duo
Ati radeon as video
contected to a armor tower full by thermaltake

After completing the system, i double checked to make sure everything was connected. Everthing seemed fine, cpu, memory, sata connections, video card, sound card etc. Right on the first startup a heard a small pop then everything came on, all fans, soundcard light, hardrive, dvd drive etc. While waiting for the startup on the monitor, everything just shuts off. Then i retried, everything starts up (nothing on the screen and one of the fans spins pretty weak) then shuts off. What could this be?? After the problem i triple checked the connections once again and everything seems fine. Another note, on the back of the motherboard has a lcd screen that reads "CPU Init" but nothing else. PLEASE PLEASE HELP. I invested over 3k on the system i pray to God that its not something serious and itll just be something that would require a little adjustment on the cables for it to work.

Thanks

Update:
I went ahead and reattempted the startup but this time using one stick of ram. I started up fine, bios came up, then it shuts down. On the LCD screen it states: CMOS Error. I think one of the sticks of memory was DOA because when both are on, nothing comes up. Please help!

"A checksum is computed as an error-detecting code, to protect the BIOS settings stored in the CMOS memory. Each time the system is booted this number is recomputed and checked against the stored value. If they do not match, an error message is generated to tell you that the CMOS memory contents may have been corrupted and therefore some settings may be wrong."

So the problem must be because of the removed RAM chip.
1)If possible go into BIOS and reset the original bios settings and then restart.
2)If above step cannot be done, then there is a jumper on a motherboard (on removal of which) for restoring BIOS settings.
3) Sometimes the problem can be of a motherboard battery.