S.H.
My grandmother was the same way when my daughter was born... she would call me EVERYDAY to see if my daughter's umbilical cord had fallen and was telling me something must be wrong since it hasn't fallen off. She drove me nuts. It's suppossed to fall off when it completely dries out... that's why it's still red and wet under when you pull it back. Just imagine how much it might be hurting your baby to be pulling the umbilical cord... ouch...please dont' do it. Our ped recomended the same thing--alchohol twice a day. It's just not ready yet...my daughter's took about 5 weeks or so to fall off. Take the time to enjoy your new abby and give your husband some kind of 'duty' to keep his mind off it.
Congratulations on your new baby!