U.S. Banks Urge Congress on Debt-Limit Deal

Discussion in 'Wall St. News' started by ASusilovic, Jul 28, 2011.

  1. Bankers including Goldman Sachs Group Inc. (GS) Chairman and Chief Executive Officer Lloyd Blankfein and JPMorgan Chase & Co. (JPM) chief Jamie Dimon called on President Barack Obama and Congress to raise the federal debt limit to steer the U.S. government away from the threat of default.

    “The consequences of inaction -- for our economy, the already struggling job market, the financial circumstances of American businesses and families, and for America’s global economic leadership -- would be very grave,” the executives wrote in the letter sent today by the Financial Services Forum, a Washington-based trade group representing the largest banks.


    I can only agree on this assessment.
  2. BS. Raising the debt limit would be MORE grave in the long run.

    Look, we gotta take our medicine for past sins. Painful as that will be, we're gonna get them shoved up our collective asses on somebody else's terms at some point... now THAT will be "grave".
  3. S2007S


    Just more whining fools asking please, please, please, raise the debt ceiling, enough of this pathetic nonsense, what does this say to the US economy when everyone is begging to have the debt ceiling raised, this economy knows absolutely nothing about spending cuts or living within its means, how many more fucking times are we going to raise the debt ceiling, its at historical highs and continues to just keep going and going, this economy is running on debt, debt thats so out of control that at this point in the game its not going to be fixed, and raising it yet again just shows how worthless this economy is. DO NOT raise the debt ceiling, start cutting immediately if means a downgrade so let it be, this has to stop somewhere, nothing is being done, a bunch of little fools cant get an agreement going and it seems even after the agreement is made and debt ceiling is raised that everyone will forget about spending cuts and tax hikes and push that all aside until we start nearing the next debt ceiling which will probably be around $16-$17 trillion which should be here by 2012-2013.
  5. Bob111


    did seriously believe those banksters and everything they are saying?
    they are on margin up to the hilt and all they are worrying about is another "margin call". a-la 2008.. cause they know,there is no more TARP..if there is-they better buy a guns,cause average joe will be very very angry..
  6. +100

    They are hedgefunds. :D

    Backed by the gov't and Fed Reserve (that means You) . :D :D

    By their own definition, I think that makes them "rugged Capitalists". :D :D :D :D
  7. jem


    they are most likely major shareholders (we do not really know who owns the Fed, a private corp) in the Federal Reserve System.

    If the u.s. were to change the status quo with respect to paying interest on our bonds... most outcomes would not be favorable for the owners of the Fed.

    The first thing people would wonder... is why the hell is the u.s. paying interest on bonds when we could just be printing the money?

    The bond arrangement has lead to serious inflation anyway.
  8. Uncle Ben has already been harshly criticized to be too calm in the ongoing dispute in Washington DC. Especially, since its the goal of the US of A to devalue the USD. Why not print new money?
  9. Regardless of the final outcome on this current resolution, the complete lack of a plan and the in-fighting has already compeltely damaged the credibility. That it's come down to the wire and none of these pols. have any clue about how to put together an actionable plan is not a memory anyone will soon forget.

    The only thing that is just as remarkable is the complete and total complacency surrounding this event. I suppose that after several years of centrally planned markets, nobody has a memory for what a market that actually prices in risk looks like.

  10. Centrally-Planned?....

    Who you calling a Communist? :confused:
    #10     Jul 28, 2011