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Obama to meet with bank heads first, then congressional leaders

  • Big bank bosses - among them Dimon, Blankfein, Moynihan, Gorman, and Stumpf - are set to meet with the President at noon today to discuss the government shutdown, and maybe more importantly the looming debt ceiling. Also included in the meeting will be AIG chief Bob Benmosche.
  • In other news, Obama has invited congressional leaders from both sides of the aisle to come to the White House later today.
  • The latter tidbit was good for a 40 point move in the Dow, though it remains lower by 0.6%.
  • Dow ETFs: DIA, DDM, UDOW, DXD, SDOW, DOG.
Comments (6)
  • DeepValueLover
    , contributor
    Comments (8661) | Send Message
     
    At least with a shutdown we can stop wasting cash and let deficits and debt naturally fix themselves.
    2 Oct 2013, 11:52 AM Reply Like
  • KJP712
    , contributor
    Comments (452) | Send Message
     
    The president will ask the Bank chiefs for a loan to continue U.S. operations.
    2 Oct 2013, 12:40 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (1047) | Send Message
     
    The only thing that surprises me about this is they didn't make BO come to the GS offices in NYC to get his directives.
    2 Oct 2013, 01:08 PM Reply Like
  • Val Halla
    , contributor
    Comments (307) | Send Message
     
    ummm...when last i checked all the Bank money was coming from Washington not the other way around. in fact my understanding is having gotten the money from Washington they just lend it right back to Washington. "Far Cry" from the old days when JP Morgan himself would bail out the Treasury Department on regular occasions. and if history is any guide you want to start buying treasuries hands over first on any news of an S&P downgrade...of anything. that includes the S&P itself interestingly. and no "i'm not going hog wild in Europe because of this" either. word is Texas will be producing 5 million barrels of oil a day in a year and North Dakota will be producing 2 million a day at that time as well. don't even get me started on natural gas. i mean regional banks have never looked so good ever. just put the pedal to the metal on QE forever and we'll be about as good to go as even the most Pollyannish of Pollyanna's could have expected...especially relative to the catastrophe of 2008. Dow 16,000 by year end, ten year down to 1.25%...the dollar about where it's at.
    2 Oct 2013, 02:29 PM Reply Like
  • rjj1960
    , contributor
    Comments (1370) | Send Message
     
    They are meeting for a free lunch, stay home please, the country doesn't need you.
    2 Oct 2013, 02:23 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4013) | Send Message
     
    They are planning the latest heist.
    2 Oct 2013, 03:02 PM Reply Like
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