Wall Street to Congress: Raise the Debt Limit

Wednesday, 27 Apr 2011 01:25 PM

By Dan Weil

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Wall Street executives are very concerned about the ramifications if Congress fails to pass an increase to the $14.3 debt limit. And they are expressing their worries to Congress, Politico reports. The main concern is that failure to lift the debt ceiling would cause a default on U.S. government debt, triggering a financial crisis.

Wall Street,Congress,Debt Limit, Geithner,Jamie Dimon
Treasury Secretary Timothy Geithner has said that without an increase, the government could hit its debt limit May 16.

Then the Treasury could take emergency steps to keep making interest payments on government debt until about July 8. At that point, they would be out of options.

JPMorgan Chase CEO Jamie Dimon “is passionate about this and has spoken out about it,” a senior financial executive told Politico.

“Others would [speak out] but understand what an enormous political cauldron this is,” he added.



© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Socialmatic Camera Prints Polaroids and Posts Them to Social Media

Wednesday, 17 Dec 2014 19:53 PM

Polaroid will soon offer the Socialmatic camera, which both prints photos and posts them to social media. . . .

Meteorologist, Shot Outside Texas Station Where He Works, Is Stable

Wednesday, 17 Dec 2014 19:31 PM

Texas meteorologist Patrick Crawford was shot in front of the station where he works on Wednesday. Crawford, a KCEN-TV m . . .

George Stinney Jr.: 14-Year-Old Exonerated 70 Years After Execution

Wednesday, 17 Dec 2014 19:11 PM

George Stinney Jr. was exonerated Wednesday, 70 years after the 14-old-boy was executed in South Carolina for a murder c . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved