Susan Dominus of the New York Times Magazine profiles CNBC personal finance guru Suze Orman, whose advice is in demand during the current economic turmoil.
Dominus writes, “Overall viewership on ‘The Suze Orman Show’ is up 22 percent from this time last year, and the urgency of the calls has increased, too. Instead of asking about what kind of mortgage makes the most sense, her viewers are calling with questions of survival like, If I have to default on one of my various lines of debt, which one should I abandon first?
“With the change in the economic climate, Orman’s role in the culture has shifted from pop finance guru to something more like a trusted national adviser. Along with Winfrey, television personalities like Matt Lauer, Anderson Cooper and Larry King regularly turn to her to make sense of the economy for their viewers. Recently even the United States government has sought her help. When the F.D.I.C. decided to run a public-service announcement reassuring Americans that their bank deposits were insured, it asked Orman to appear in the spot.
“In the ad, Orman delivers the message, followed by only a brief appearance by the F.D.I.C. chairwoman, Sheila Bair. Orman asks, ‘Who cares more about your money than you, me and the F.D.I.C.?’ She wasn’t paid for the work, but it’s hard to imagine better promotion: ‘You, me and the F.D.I.C.’ — there was Orman, snugly situated between everyman and the federal government.”
Read more here.
