CNBC Stock Blog
- 3 Safe Investments That Let You ‘Sleep Better:’ Strategist
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- More Upside if S&P Passes This Number: Market Pro
- Playing Activision and Other Video Game Stocks: Analyst
- Expect 'At Least' Another 10-15% Upside: Fund Manager
- Why are Options Bullish on This Smartphone Maker?
- Why are Traders Bullish on This Food Company?
- Profiting From Natural Gas: Strategists
- 3 Hot Mid-Cap Stock Picks: Portfolio Manager
MOST SHARED
- JPMorgan Chase to Hire 1,200 Mortgage Officers
- Bear Stearn Fund Managers Not Guilty on All Counts
- Oil Tomorrow
- Parsing Treasury's Loan Modification Report
- Adobe Cuts 680 Jobs, to Take Charge
- Gold Heading to $1150: Art Hogan
- Zucker to Head New NBCU-Comcast Venture: Sources
- Toll Brothers: More Contracts Signed, but Sales Down
- Fed's Lacker: US in a 'Good Place' With Inflation
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- Starbucks Brews Up Growth
- Farr: An Extended Period—No Fat Lady in Sight
- More Upside if S&P Passes This Number: Market Pro
- Murdoch Lashes Out At Google
- Fighting The Flu Vaccine Critics
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- Apple Surpasses Nokia as Top Handset Maker by Profit
- Three Things the US Can Do To Stop the Dollar's Decline
- Toll Brothers: More Contracts Signed, but Sales Down
- Fed's Lacker: US in a 'Good Place' With Inflation
- Bear Stearn Fund Managers Not Guilty on All Counts
- Commodity ETFs: Returns May Not Match Expectations
- JPMorgan Chase to Hire 1,200 Mortgage Officers
- Ponzi Proceeds: Bidding on Madoff's Toys
- Quiz: Do You Know Your Coca-Cola Myths?
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