Discussing the “stress test” recently conducted on U.S. Banks, Harry Rady expressed doubt as to whether the results and data gleaned will restore public confidence in the banks. Rady, during his interview on “Closing Bell” the CNBC Financial news program, explained that although it is a positive step to have additional “data” points and increased transparency, he was doubtful that there is much relevance to the results of the stress test.
To listen to the full interview, follow the link to: Closing Bell.
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Harry Rady Interviewed on CNBC’s “Closing Bell”
Posted by News in CNBC Closing Bell, Harry Rady, Rady Asset Management on 04 5th, 2009| | No Comments »
Rebecca Jarvis of the popular CNBC financial news program “Closing Bell” interviewed Harry Rady of Rady Asset Management located in San Diego, California along with Alex Sanchez, the President of the Florida Banker’s association, on March 3, 2009. In wake of the “economic free fall” the U.S. economy has been experiencing, Harry Rady shares his thoughts on what creative action the U.S. government might take in order to boost the economy and help homeowners maintain economic health and security. Rady suggests in this interview that the U.S. government should initiate a 4% mortgage program which he believes will refinance all these “toxic mortgages” off the balance sheets and put between $2,000 and $4,000 into the hands of every homeowner. In response to Rebecca Jarvis’s question of how this action would help increase cash flow to small business in America, Rady responds that in order to get the economy back on its feet we must begin with the housing industry. Hear and see the interview below.