Wall Street to Congress: Raise the Debt Limit

Wednesday, 27 Apr 2011 01:25 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  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.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

NASA: Engineer Vital to Moon Landing Success Dies

Sunday, 20 Apr 2014 06:10 AM

SCARBOROUGH, Maine - John C. Houbolt, an engineer whose contributions to the U.S. space program were vital to NASA's suc . . .

Man Detained after Threats at LA Times Building

Saturday, 19 Apr 2014 22:03 PM

A man suspected of making threatening statements about a shooting and forcing the lockdown of the Los Angeles Times buil . . .

Body Found by Highway Is Missing Massachusetts Boy

Saturday, 19 Apr 2014 21:42 PM

The body of a small boy apparently cast off the side of a highway in Massachusetts has been confirmed as a missing 5-yea . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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