Pete Peterson, co-founder and senior chairman of Blackstone , interview on Charlie Rose

He is very concerned about a potential downward spiral within the economy. He discusses the negative feedback loop consisting of negative savings rates, consumers having falsely drained equity out of their homes under the false presumption of continued home appreciation, reduced demand and a stagnant/recessionary economy, foreclosures, additional housing inventory.

"An hour with Pete Peterson, co-founder and senior chairman of The Blackstone Group.