Welp, shit just got real. Debt ceiling talks went nowhere today and the markets fuct

[Mandy !(:]

one downgrade will cost the gov an estimated $100bil

not to mention the ripple effect across the corporate and muni paper markets

 

[*~*Iris C*~*]

I think an excise tax on banks to discourage future risky behavior would more than make up for the $100 billion or so loss due to the downgrade.

Also think investigations into the rating agencies are in order.

 

[LyricDreamer95 ! :D]

oh dont worry, plenty of regulations are on their way for the banks.
and all the blame doesnt fall of them....

 

[damario rocka]

What I find most ironic, is that many states will have to raise taxes in order to pay higher interest rates on loans. The very thing those whack jobs tea party R's are trying to prevent

 

[pothead]

Raising taxes will only further lower revenues.

What happens next?

 

[SkoolSux]

no, it doesn't. But it's time to send a message. Congress holRAB the purse strings. Not the banks, not the IMF, not the Fed. Not even the treasury.