Consumer Debt Forgiveness May Be Needed: Roach
August 22, 2011 at 13:05 PM EDT
American consumers have too much debt, not enough savings, and are afraid they will lose their jobs-if they haven't lost them already. It might be time for something that hasn't been done since the 1930s to get Americans spending again: national debt forgiveness, Stephen Roach told CNBC Monday.
