US bankers demand higher debt ceiling
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Thursday 03 October 2013
Wall Street chief executives last night urged Washington to resolve its issues and raise the federal debt ceiling after a meeting with Barack Obama.
Lloyd Blankfein, chief executive of Goldman Sachs, was among those present and declared: "There's a consensus that we shouldn't do anything that hurts the recovery. They shouldn't use the threat of causing the US to fail on its obligations to repay its debt as a cudgel."
Mr Blankfein was among other top bankers, including JPMorgan chief executive Jamie Dimon and Bank of America head Brian Moynihan, meeting the President. Mr Obama called the summit in an attempt to get big business to exert pressure on Republican refuseniks to break the stalemate.
Mr Blankfein said he and his Wall Street colleagues were "apolitical" on the various issues such as Obamacare preventing Republicans from signing and simply wanted a deal done to get the federal government functioning again.
Mr Moynihan said the bankers wanted to spread the message of how serious the current crisis is to the economy. Mr Dimon said: "We just want solutions. I think if people do the right things, America can grow aggressively and grow rapidly. That's what we should be looking for."
The MSCI All-Country index of leading global shares fell for the second day of the shutdown while gold rallied.
Meanwhile, the government standstill looked set to prevent even the economic statistics produced for policymakers and markets being issued.
- 1 10 ways we damage our teeth – without realising
- 5 Photo of wedding guest proposing to girlfriend in front of bride and groom goes viral
Hopes raised for treatment of severe amnesia after scientists retrieve lost memory – using light
Playboy model April Summers speaks out about being a victim of a voyeuristic sex crime
Poorest part of London is wealthier than the richest parts of Northern Ireland and Wales
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
How to live to be really old
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...