Hilarious. Many of these people bankrolled Republican candidates. Eg., the Koch brothers helped fund the teaparty movement. Now their own pocketbooks are at risk from the people they supported.
http://blogs.wsj.com/washwire/2011/07/12/300-business-leaders-urge-congress-white-house-to-act-on-debt/?mod=wsj_share_twitter
JULY 12, 2011, 11:24 AM ET
By Damian Paletta
Nearly 500 of the country’s top business leaders, including the chief executives of Alcoa Inc., Bayer Corp., Caterpillar Inc,. Citigroup Inc., Cisco Systems, Inc., DuPont, International Paper Co., Koch Enterprises Inc., and Procter & Gamble Co., urged the White House and congressional leaders to reach a compromise that raises the debt ceiling and tackles the country’s deficit problems to avoid a financial crisis.
“Treasury securities influence the cost of financing not just for companies but more importantly for mortgages, auto loans, credit cards and student debt,” 470 business leaders wrote in a letter. “A default would risk both disarray in those markets and a host of unintended consequences. The debt ceiling trigger does offer a needed catalyst for serious negotiations on budget discipline but avoiding even a technical default is essential. This is a risk our country must not take.”
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