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(3,063 posts)
Sat Sep 28, 2013, 07:43 PM Sep 2013

Wall Street Pleads With GOP To Put The Debt Ceiling Gun Down [View all]

Source: HuffingtonPost

A former GOP governor and major voice for Wall Street minced no words on Friday about the repercussions the United States would face for defying the debt ceiling.

In a Washington Post op-ed, President & CEO of the American Bankers Association Frank Keating expressed how grave a decision it would be for Congress to default on its nearly $17 trillion in debt.

"Using the debt ceiling as leverage in the deficit debate is unwise and dangerous," Keating wrote. "Citizens nationwide are frustrated with the political stalemate in Washington. But our nation’s financial integrity should not be used as a bargaining chip."

In his role at the ABA, Keating leads the 135-year-old association, speaking for banks of all sizes and charters in the $13 trillion industry. Additionally, Keating has served on the Bipartisan Policy Center's Debt Reduction Task Force -- a group of former cabinet members, officials and other sources from both parties that made recommendations for reducing the U.S.' fiscal troubles.

Read more: http://www.huffingtonpost.com/2013/09/28/frank-keating-debt-ceiling_n_4008900.html

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The plutocrats are trying to put the far-right genie back in the bottle YoungDemCA Sep 2013 #1
They've lost control leftynyc Sep 2013 #7
Rethug Response busterbrown Sep 2013 #2
Is this Keating the same cosmicone Sep 2013 #3
No, that was Charles Keating, Jr. HuskiesHowls Sep 2013 #11
Thank you. Just the last name gives me nausea. And McCain, projectile vomiting. freshwest Sep 2013 #23
No, Charles Keating wasn't a senator he just was the banker. alp227 Sep 2013 #12
Can't someone DO something? AlbertCat Sep 2013 #4
Rich Rethugs with huge stock holdings golfguru Sep 2013 #5
Exactly.. sendero Sep 2013 #19
The problem is that defaulting on the debt will hurt ALL of us! Duppers Oct 2013 #25
That is pure humbug! golfguru Oct 2013 #26
are you not reading DU & news? Duppers Oct 2013 #27
Federal employees ALWAYS get full back pay golfguru Oct 2013 #28
reducing the U.S.' fiscal troubles would be much easier pscot Sep 2013 #6
The Golem will do what the Golem will do. No use crying about it. Kablooie Sep 2013 #8
They're going to insist WE concede durablend Sep 2013 #9
Rep. Issa did just that when he told a reporter 3x "How dare you" when the kiranon Sep 2013 #20
You'd figure Wall St would have learned their lesson the first time around Snake Plissken Sep 2013 #10
"the political stalemate in Washington" PSPS Sep 2013 #13
Maybe the R's in the House Dyedinthewoolliberal Sep 2013 #14
GOP strategy: One more step and I take out the whole room, starting with myself! nt Javaman Sep 2013 #15
And their strategy works flawlessly Snake Plissken Sep 2013 #18
Before 9/11 nobody thought someone would hijack a plane to slam it into a building. AlbertCat Sep 2013 #24
I've read that Wall Street and the usual players like the Chamber of Commerce don't have control summerschild Sep 2013 #16
Just another bad investment made by Wall Street remember these idots caused the crash in 2008. gordianot Sep 2013 #17
Suuuure they do. blkmusclmachine Sep 2013 #21
You broke it, you bought it. DeSwiss Sep 2013 #22
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