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April 13, 2011


Boehner Tests How Far He Can Go

House Speaker John Boehner "has been reaching out to top Wall Street players asking how close Congress can get to the May 16th deadline (or July 8th drop-dead date) for raising the debt limit without seriously unnerving financial markets," Politico reports, but "the questioning is not going over well."

Said one bank executive: "They don't seem to understand that you can't put everything back in the box. Once that fear of default is in the markets, it doesn't just go away. We'll be paying the price for years in higher rates."














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