Debt Ceiling Brinkmanship Rattles Investors
Source: Reuters, Wanfeng Zhou and Herbert Lash (7/25/11)
"This whole game of chicken is fraught with risk."
Prospects of a budget breakthrough that would allow the United States to raise its debt ceiling and avoid default on its bond payments faded over the weekend as lawmakers missed a self-imposed deadline to produce a deal.
"This whole game of chicken is fraught with risk," said Ken Polcari, managing director at ICAP Equities in New York. "Risk for the investors, for the consumer, to the economy, to Americans, to Europeans, risk across the board ". . .View full article