Wall Street worries about the Socialist Banking Network

A group of the largest US banks and fund managers stepped up the pressure on Congress and the Obama administration to reach a deal to increase the country’s debt limit, saying that even a short default could be devastating for the financial markets and economy.

The warning over the debt limit is the strongest yet to come from Wall Street, highlighting growing nervousness among investors about the US political system’s ability to forge a consensus on fiscal policy.CNBC

These folks are the Cadillac welfare queens of our age. When bankers go boo hooing to the politicians, war often results. The best response is to default now and start the restructuring; otherwise the middle class will pay a much heavier price later.