Obama to Banks: We're Not Defaulting

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#1 Tue, Jul 26, 2011 - 12:58pm

Violent Rhetoric

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Obama to Banks: We're Not Defaulting

Not a surprise, but here you go...

Obama to Banks: We're Not Defaulting

https://www.foxbusiness.com/markets/2011/07/25/obama-to-banks-were-not-defaulting/

While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn't raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned

senior banking official told FOX Business that administration officials have provided guidance to them that even though a default is off the table, a downgrade "is a real possibility for no other reason than S&P and Moody's have to cover (themselves) since they've been speaking out on the debt cap so much."

Edited by: Violent Rhetoric on Nov 8, 2014 - 5:05am

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.” ~ Robert Heinlein