{"id":856844,"date":"2021-10-07T14:29:36","date_gmt":"2021-10-07T18:29:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=856844"},"modified":"2021-10-07T14:29:38","modified_gmt":"2021-10-07T18:29:38","slug":"major-banks-on-u-s-default-america-cannot-default-on-the-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/major-banks-on-u-s-default-america-cannot-default-on-the-debt\/","title":{"rendered":"Major banks on U.S. default: America cannot default on the debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmajor-banks-on-u-s-default-america-cannot-default-on-the-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=856844&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2543092\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-2543092\" class=\"wp-caption-text\">Jane Fraser, CEO of Citigroup, speaks as White House senior adviser Cedric Richmond listens during a meeting with President Joe Biden and business leaders about the debt limit in the South Court Auditorium on the White House campus, Wednesday, Oct. 6, 2021, in Washington. (AP Photo\/Evan Vucci)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 10:24 AM PT \u2013 Thursday, October 7, 2021<\/h5>\n<blockquote>\n<p><strong>\u201cThe cascading effects in the ensuing weeks could go anywhere from a recession to a complete catastrophe for the global economy.\u201d<\/strong><\/p>\n<p><strong>\u2014 Jamie Dimon, CEO \u2013 JP Morgan Chase&nbsp;<\/strong><\/p>\n<\/blockquote>\n<p>CEOs of transnational corporations are stirring up fears of a possible default on U.S. national debt while calling it \u201ca catastrophe.\u201d In a video conference with Joe Biden on Wednesday, top executives from Citi Bank, Chase Bank and others claimed a U.S. default may cause a recession or a global financial crisis.<\/p>\n<p>The CEO of Citigroup, Jane Fraser, added that an actual default would be unprecedented and could be potentially far worse.<\/p>\n<p>\u201cAmerica simply cannot default on the debt because the U.S. Treasury market is the bedrock of our financial system domestically and globally,\u201d she explained. \u201cAnd defaulting is going to cause lasting damage to the credibility of the United States with investors and in financial markets around the world.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Citi CEO Jane Fraser: \u201cI can tell you that from an economic perspective, we need to resolve this issue very quickly. Every day of delay right now comes at an increasing price\u2026 it will hurt consumers. It will hurt small businesses.\u201d<\/p>\n<p>\u2014 The White House (@WhiteHouse) <a href=\"https:\/\/twitter.com\/WhiteHouse\/status\/1445840216992800774?ref_src=twsrc%5Etfw\">October 6, 2021<\/a><\/p>\n<\/blockquote>\n<p>However, former Republican Rep. Ron Paul of Texas claimed the government taking on additional debt is more dangerous than a default. In the meantime, some economists say the U.S. has several options to avert an economic crisis even in the event of a default.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/sen-cruz-bidens-u-s-attorney-nominee-rollins-is-truly-a-radical\/\">Sen. Cruz: Biden\u2019s U.S. Attorney Nominee Rollins Is \u2018Truly A Radical\u2019<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Jane Fraser, CEO of Citigroup, speaks as White House senior adviser Cedric Richmond listens during a meeting with President Joe Biden and business leaders about the debt limit in the &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-856844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/856844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=856844"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/856844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=856844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=856844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=856844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}