Wednesday, 30 July 2014
Last updated 12 hours ago
Oct 3 2013 | 12:19pm ET
As the U.S. government shutdown enters its third day, the Obama Administration is warning that worse could be on the horizon should Congress fail to raise the federal debt limit. Greenlight Capital's David Einhorn agrees.
Einhorn told Bloomberg Television that it is unimaginable that the debt limit would not be increased, leading to a default on U.S. sovereign debt—the first in the country's history.
"Frankly, not working this out so the government shuts down is bad enough," Einhorn said. "It doesn't seem that they tried to sit down and talk through their differences. It's a real shame. I think it is embarrassing to all of them."
Congressional Republicans have tied both the federal budget and an increase in the debt limit to a number of demands, including a delay of President Barack Obama's signature healthcare law and major spending cuts. The president and Senate Democrats have rejected those requirements as blackmail; Obama said he will not negotiate over debt limit.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…