Art Cashin: Stimulus Package Was a 'Hoax'

Art Cashin: Stimulus Package Was a 'Hoax'

Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his stock-market outlook.

Cashin reiterated his belief that another government stimulus package would be useless — because the first package was "part illusion, part hoax." And now that the economy's problems seem to be continuing, "the fire extinguisher's empty," he said.