Bill Ackman: The ultimate regulator is Visa 8/2/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 2 August 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

In our continuing coverage of the lawsuit against Pornhub parent MindGeek and Visa, hedge fund investor and Pershing Square billionaire Bill Ackman discusses the next steps he expects Visa and other credit card companies to take to ensure that their tools are not being used for harm. Founder and CEO of the Justice Defense Fund Laila Mickelwait shares how many victims of non-consensual and underage pornography have come forward since the suit was filed. Ackman also weighs in on the recession debate and America’s road map out of inflation. Plus, Speaker Nancy Pelosi has landed in Taiwan. In this episode: Bill Ackman, @BillAckman Laila Mickelwait, @LailaMickelwait Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squack Pod.
0:08.0	The lawsuit shaking up credit cards C suites,
0:11.0	how Mind Geek's illegal pornography, and the payment tools that enable
0:14.8	it could shift an entire industry.
0:17.1	We're hearing from the investor who brought it to the forefront of business news, Bill Ackman.
0:21.4	The ultimate regulator is actually Visa.
0:24.0	Visa tomorrow could shut down Mindkeek.
0:26.3	And more from Ackman, the Pershing Square billionaires
0:29.0	take on the recession debate and how we can dig ourselves out of inflation.
0:33.0	I totally agree that we are not in a recession right now
0:36.0	and if we are smart about how we manage interest rate policy
0:39.0	can kill inflation and the economy can continue to succeed.
0:42.0	Plus China saber rattling. and the economy can continue to succeed.
0:42.8	Plus China saber-raddling.
0:44.9	If Pelosi visits, the US will quote,
0:48.1	pay the price.
0:49.5	As House Speaker Nancy Pelosi is set to visit Taiwan.
0:52.8	If President Biden hadn't sort of said,
0:55.9	I don't think she should go, I don't know whether China,
0:58.9	maybe they saw that as kind of an opening.
1:01.6	It's Tuesday, August 2nd, 2022, Squack Pod begins right now.
	...

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