Hedge Funder: Shut the markets down

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 23 March 2020

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hedge fund manager Kyle Bass is calling for the U.S. markets to be shut down completely as coronavirus cases continue to grow worldwide. Allianz Chief Economic Advisor Mohamed El-Erian envisions a long, arduous journey to the other side of this market turmoil. One of the biggest landlords in the New York tri-state area, Richard LeFrak, addresses calls for a mortgage and rent “holiday” as workers follow shelter-in-place mandates and miss paychecks.

Transcript

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0:00.0	This is Squawk Pod. I'm C. M. B. Cady Kramer. Today on our podcast,
0:06.6	Mohammed Al Arian on the economy's newest normal.
0:09.6	People are suffering. There is real pain in the street.
0:14.0	The best you can do right now is protect and contain the damage.
0:16.9	You can't erase it overnight.
0:18.9	Hedge fund manager Kyle Bass says it's time to shut the stock markets down.
0:22.8	We all know we're going to get to the other side of this.
0:25.2	The problem is, every single day we're going to see worse and worse news
0:29.7	until we hit peak infection.
0:31.8	And President Trump's quote, game-changing drug
0:34.4	cocktail for coronavirus.
0:36.0	Does the scientific community agree?
0:38.3	It's Monday, March 23rd, 2020.
0:40.8	Squackpot begins right now.
0:43.0	Stand Becky by in three, two, one, fuel please.
0:47.0	Good morning everybody and welcome to see NBC's breaking coverage of the coronavirus,
0:51.0	what's happening around the world, what's happening in the markets right now too.
0:54.1	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
0:56.9	Joe is at the NASDAQ market site in Times Square. Andrew and I are not.
1:00.7	We've been watching the USA.
1:02.0	First up today on the pod, a massive funding package to combat the impact of coronavirus
1:06.9	on the economy stalled in the Senate over the weekend.
	...

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