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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