Thursday, April 14, 2011

Why is John Boehner consulting Wall Street?

The Week

The House speaker is reportedly contacting top bankers to ask how far he can push the fight over the debt ceiling without roiling the markets.

[...] But Wall Street is telling Boehner that, if the markets believe the debt limit won't be raised, very bad things will happen to the dollar, U.S. borrowing costs, and global finance. Why is Boehner even engaging in these discussions? Here, four theories:

With an explanation of each.

1. Boehner is playing with a weak hand

[...] And the fact that Boehner is asking Wall Street "how much screwing around he can get away with" before raising it — rather than whether raising it is a good idea — means Democrats should be completely unwilling to trade anything for a clean vote. Republican threats are mere bluffs.

"Call the hostage takers' bluff"
...

2. The GOP doesn't want to lose Wall Street's support

Duh...

3. Wall Street knows Boehner's bluffing is harmless
...

4. The Tea Party is setting the terms of this debate

Boehner has already said* that the debt ceiing won't be raised without "something really, really big attached to it".

If the Dems stand firm (pigs are flying?!) they don't have to give him jack shit. He just wants to appease his 'bagger morons and make this look like a victory for them.

Stupid fucking Repug games. Business as usual.

*Great quote on the masthead at this site:

"Every normal must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken

Yep. Shiver me timbers!

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