Paul O'Neil on CNBC: Unambiguous Regulation Needed

Paul O'Neil, former Alcoa AA head and ex-Treasury Secretary, was interviewed on CNBC earlier. O'Neil stated that he supported supported using natural gas as a fuel, but wished that companies would make a bigger commitment to be environmentally friendly. On employment, O'Neil Stated that presidents could not really fix unemployment, as other factors in the market were more important. He said that real structural changes were needed to bring the deficit in-line. O'Neil would support reserve requirements for money market funds. Overall, O'Neil stated that regulation was needed, but that it must be unambiguous and clear. O'Neil said that he would support a 20% down payment requirement on home mortgages.