Today's Top Videos: Auto Bailout, Cramer & More...
The director of the FHFA discusses a new loan modification plan that will take effect on Dec. 15, while the CEO of Hulu.com, a joint venture between NBC Universal and News Corp., discusses his business during the economic downturn. Following are today's top videos:
Lockhart on New Loan Plan
“This is very big. I think it’s extremely important to be preventing foreclosures. We’ll see tens of thousands prevented every month and overall, over the next couple of years I would hope it would be in the hundreds to millions of mortgages be rewritten so that people can afford them. We need to stop foreclosures.”
—James Lockhart, Director, FHFA
The Big Three Bailout
“I am weighted more towards import than the Detroit-three. And I’ve been an outspoken critic of Detroit over the years and their ways and have had a contentious relationship with Detroit management at times. So having said that, I think it would be an absolute travesty that the reckless behavior of Wall Street, result in a sweeping of way of the American automobile industry. And the consequences for the economy would be catastrophic and for main street.”
—Mike Jackson, Chairman & CEO, AutoNation
CNBC Exclusive: Hulu CEO
“There’s a lot of headroom. Just in the U.S. alone, it’s an 80 billion dollar industry and it’s an ad-supported premium video industry. So we’re a start-up. We’re 8 months into it in terms of when we have the official commercial launch and it vastly exceeded our expectations but keep in mind that there’s a lot of headroom so there’s a lot of places that this can go.”
—Jason Kilar, CEO, Julu
Recession's Four Horsemen
“It’s really not different from [the other recessions] it’s not different from 1870s, it’s not different from any other type of massive recession that was brought about by rise in taxes. They’re increasing the national debt dramatically with these “stimulus packages” and “bailout packages” that are doing nothing but killing the economy and causing huge increases in taxes in the future. It’s a disaster.”
—Art Laffer, Co-Author of “The End of Prosperity,” Laffer Investments