Prince Alwaleed: Beware of Debt 'Bomb'
Saudi Prince Alwaleed bin Talal called on US lawmakers to raise the debt ceiling, while also warning that steps must be taken to control government spending.
The renowned investor and philanthropist, and nephew of King Abdullah, also rejected the notion that the US could delay payments on its bonds for several days as has been suggested by Rep. Paul Ryan and hedge fund manager Stanley Druckenmiller.
"We in the outside world, outside the United States, believe the United States is not giving much care and attention to this time bomb that you have right now here," bin Talal said in a CNBC interview.
Posted on May 20, 2011
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