Skip to comments.Bank CEOs: Raise debt ceiling this week -- or else!
Posted on 07/28/2011 9:43:21 AM PDT by Son House
CEOs of the nation's leading banks, including Goldman Sachs and JPMorgan Chase, sent a letter to the White House and Congress on Thursday urging them to hurry up and reach a debt agreement.
In the letter, sent by the Financial Services Forum to President Obama and members of Congress, the CEOs said an agreement needs to be made this week, or else there will be "grave" consequences.
"A default on our nation's obligations, or a downgrade of America's credit rating, would be a tremendous blow to business and investor confidence -- raising interest rates for everyone who borrows, undermining the value of the dollar, and roiling stock and bond markets -- and, therefore, dramatically worsening our nation's already difficult economic circumstances," the letter stated.
CEOs who signed the letter include Brian Moynihan of Bank of America (BAC, Fortune 500), Vikram Pandit of Citi (C, Fortune 500), James Dimon of JPMorgan Chase (JPM, Fortune 500) and Lloyd Blankfein of Goldman Sachs (GS, Fortune 500).
(Excerpt) Read more at money.cnn.com ...
what is it with all of these ...
the imf, the euro leaders, the banks, et al...
pushing us for more debt?
Greedy bastards. Not bad enough that they send our jobs to communist countries, now they want to put us in the financial debt hole even deeper. They should be flogged. All of em.
The bankster gangsters speak.
Every one of these crooks got TARP money to pay off their bad mortgages. Yet they get to keep the properties and keep collecting payments that are being made.
Consider the source....CNN.
We’re talking swizzle sticks in the knife drawer.
I knew Dimon was in on this just by reading the title.
He’s a tool, worse than Immelt.
That’s a part of what the CNN Reporter left off, the debt issue was addressed in their letter according to what I heard on the radio
PASS HR 2402 NOW!!!
Default and get the depression under way!!!
Wipe out everyone living on credit!
Enslave Your Children-Or Else.
there fixed the title.
Obama can’t buy Senators anymore, so he’s purchased some Bankers, Chicago style, to ratchet up the “Crisis”.....
If a banker doesn’t raise your Credit card limit, do you still keep paying the bill...or....is that a default indicator ? ? ?
(didn’t think so)
And you know how trust-worthy Goldman Sachs is...
Goldman Sachs, JPMorgan Chase: Bought and paid for by the Obama Administration.
They can all Foxtrot Oscar. I don't even want to hear from that bunch.
Simple, if our credit is downgraded the bonds they hold become worth less, if not worthless.
The bankers stated: “A default on our nation’s obligations...”
Whenever you see that, correct it to, a default on our nation’s DEBT. The word “obligations” is too broad to apply the term “default” to, because obligations include all appropriations. Someone will not be paid if the debt ceiling isn’t raised on time, but it won’t be a “default” because Geitner will pay the interest on the debt and roll over maturing issues as needed.
Nice slight of hand though. Anyone using the phrase is either a Democrat, or pushing for the Democrat’s solution.
Well, they spelled out what they don’t support:
“A default on our nation’s obligations, or a downgrade of America’s credit rating, would be a tremendous blow to business and investor confidence”
The first comes from no agreement and the second from raising the debt limit.
So they’re telling Washington to cut spending.
Where’s Andrew Jackson when you need him?
Bankers are dumber than Congress and our government.
....would be a tremendous blow to business and investor confidence...
There is NO WAY out of this Communitst hole without first passing through this phase.
Might as well get it over with.
Congress has the power to create money out of thin air, too, without any contact with the banks. If Congress thinks there is too little money to go around, it can make more.
Hey, greed is good. The bankers have managed to rig the system and benefit accordingly. Good for them (crappy for the rest of us). I definitely should have gone into banking, that’s for sure.
It’s suprising just how many people OWN mac, the crybaby lair, daddies soul.
As Steve Forbes pointed out, our debt payments are only 6% of our spending. Since we overspend by 40%, or roughly half, this means that 6% is only 10% of the money the feds take in.
So, why all the noise and threats about a downgraded credit rating since we obviously can meet our debt payments? This is all purely political as a means to get more of our money.