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I will be guest host on CNBC's Squawk Box Friday morning from 7 to 9 AM Eastern.
[Video from my March 6, 2009 interview can be found on the CNBC website here.]
3 Responses to “Guest Host on Squawk Box”
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March 4th, 2009 at 4:27 pm
Not being a Financial person myself, I am curious what a finance expert thinks about my idea for a stimulus plan. My premise is that for the most part, the credit card debt is the main cause for the credit/home crisis going on. If people didn’t have to make the monthly payments to their credit cards, they could afford to pay their mortgage, buy cars and other goods & services and maybe put some money in the bank.
What if the government negotiated a payoff to credit card companies for all outstanding credit card debt in the US (my research shows there is about 2 trillion dollars which can be negotiated down). This would free up peoples income to pay their mortgages, bills, etc. They would have to reapply for credit cards with the credit card companies having more strict rules for credit acceptance set by the Government, Credit Card companies and a consumer panel together. Then people could still have credit cards and purchase things to boost the economy of businesses is they desire. The way I see it, credit companies get paid to maintain operations, people are paying their mortgages which will decrease foreclosures and with the freed up income can buy cars, etc to stimulate those areas and increase jobs and deposit money into banks leftover from their paychecks. This would be the opposite of the “Business-side bailout” which is going on now and many think won’t work. Just curious what a finance expert thinks about this plan? Thanks
March 5th, 2009 at 1:07 pm
You are our only hope! Keep pressing for the suspension of mark-to-market. Without this one simple action everything else borders on pointless.
March 12th, 2009 at 10:07 am
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