CNBC Stock Blog
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Markets Can Rise 5-10% in the Near-Term: Strategist
- Buy These 'Competitively Positioned' Stocks: Portfolio Manager
- 5 Stocks That Benefit from Health Care Legislation: Analysts
- 9 Stocks That Play Rising Water Costs: Strategists
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Rally Could 'Have Some Legs in 2010': Market Strategist
- Expect a 'Square Root-Shaped' Recovery: Chief Investor
- HP to Feed on Enterprise Spending Next Year: Tech Analyst
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- US Home Prices Up 5th Month, 2nd Straight Quarter
- FDIC Fund Falls into The Red, Bair Urges Lending
- Buyers Look For Bargains At Luxury Condo Auction
- Weak Dollar Is Golden for Mining Companies
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- Behind The Scenes With Warren Buffett
- Gold Will Collapse Like Oil Did in 2008: Charts
- CA "More Profitable" After Saving Energy: CEO
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Novartis 'Cells' Its Flu Vaccine Technology
- Silicon Valley and Hollywood Now Fast Friends
- Markets Can Rise 5-10% in the Near-Term: Strategist
- Busch: The Debt-Interest Rate Paradox
- The Lloyd's Prayer, Leggo My Eggo, Plate Hate & Your Emails
- Buy These 'Competitively Positioned' Stocks: Portfolio Manager
- Behind The Scenes With Warren Buffett
- Turkey Day 101: How Well Do You Know Your Bird?
- Fed Sanguine About US Recovery, Worried on Jobs
- GM's Agreement to Sell Saab Unit Falls Apart
- Consumer Confidence Improves but Still Shaky
- US Home Prices Up 5th Month, 2nd Straight Quarter
- FDIC Fund Falls into The Red, Bair Urges Lending
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Buyers Look for Bargains at Luxury Condo Auction
RSS FEED
Text Size 
CNBC News Associate
Five-star fund manager Steven Romick of First Pacific Advisors criticized the level of government intervention in General Motors [GM
Loading...
()
].
“[The government] is not letting the capital markets be free,” Romick told CNBC at the Morningstar Investment Conference in Chicago.
He said his firm has been building “a lot of debt” in their portfolio over the last six months.
He said his firm owns debt of Ford Motor Credit in Europe.
Romick also said he is concerned about the rising Treasury interest rates.
“Americans are investing long on the asset side and we’re borrowing short,” he said. “43 percent of our existing Treasury debt comes due this year. So if you’ve got about $2.5 trillion debt that has to roll this year, plus including other deficits and stimulus, you’re at $4.5 trillion of your Treasury debt.”
(Watch the video for the full interview.)
_______________________
CNBC Slideshows
_______________________
First Pacific Advisors serves as investment advisor to FPA Crescent Fund [FPACX
Loading...
()
], which seeks value in corporate and convertible bonds.
Major holdings of the fund include:
Covidien [COV
Loading...
()
]
ConocoPhillips [COP
Loading...
()
]
Wellpoint [WLP
Loading...
()
]
American Capital [ACAS
Loading...
()
]
Ensco [ESV
Loading...
()
]
Walmart Stores [WMT
Loading...
()
]
Disclosure:
No immediate disclosure information was available for Romick or his firm.
______________________________
______________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes