Dawn Bennett Sees `Treacherous Battle’ in Credit Market

Feb. 4 (Bloomberg) — Dawn Bennett, who oversees $1 billion as chief executive officer of Bennett Group Financial Services, talks with Bloomberg’s Rhonda Schaffler in New York about the U.S. economy, fiscal and monetary policy, the U.S. credit market and her equity and commodity investment strategy. President George W. Bush sent Congress a $3.1 trillion federal budget today that trims Medicare and health care programs, boosts military spending and projects the deficit this year and next will hit near-record levels. (Source: Bloomberg)

Dawn Bennett recommends some common sense economic solutions: Like a sound currency.

Watch the video by clicking the link on the left.

Read Full Post »

Wilbur Ross Speaks out on the Economy

In a video on Bloomberg labeled under Senator, “Dodd Says Bernanke Committed to Use `Tools Available,” Bloomberg actually features Wilbert Ross Chairman, WL Ross & Company.

 

Notable Quotes:

Wilbur Ross:

“Half of all new property listings in California are now foreclosures.”

Bloomberg Anchor:

“Wow, that’s scary.”

 

Wilbur Ross:

“People were using there home as an ATMs but they were really using it as a borrowing type ATM to consolidate debt… but now that’s gone.”

 

Bloomberg Anchor: “Can Fed Cuts help?”

Wilbur Ross: It helps in lowering borrowing costs for banks and lowering the resetting interest rates on mortgages. It does not help in liquidity. Liquidity is a physiological phenomenon. For years, every lender was lending to everyone. Now, every lender is lending to no one. Even able borrowers.

 

 

Watch the Video.

Read Full Post »