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Keyword: defaut

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  • Obama to banks: We're not defaulting.

    07/26/2011 11:00:29 AM PDT · by xtinct · 32 replies
    Fox Business ^ | 7/26/2011 | Charlie Gasparino
    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. In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn't raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond...