CNBC’s Simon Hobbs, by no means a Democratic sympathizer excoriated the Republicans in general and Speaker Boehner in particular on the debt ceiling debate. I have yet to see someone in the financial markets come down this hard on the Republicans ever.
The problem is why did they wait this long. The following quotes from his excoriation is on point
“If one this I can leave you with is this. As the hours tick by it is increasingly likely that the greatest nation in the world, the United States will be stripped of its AAA credit rating by the rating agencies. In other words it means that the rest of the world would say you are more of a liability to lend money to than Singapore, Hong Kong, or France, or Germany, or Britain, or indeed Canada. I believe when this episode is written, this historical episode is written Michael, that they will lay the blame of that squarely on the part of the Republicans and personally on John Boehner in particular. “
Watch the video for his justification.
