At Invitation Of White House, Wall Street Execs To School US Reps On Importance Of Debt Ceiling

I wish this were a joke of some sort, but it’s not. The Financial Times reports this morning (4/14) that the White House has asked several banking executives to please explain the importance of increasing the debt ceiling to congressional Republicans. The lead voice for the educational sessions is the Secretary of the Treasury, Tim Geitner.   The bankers asked to help the Republicans understand such a complex issue include Pandit of Citigroup, Moynihan of Bank of America, and Dimon of JPM, and some insurance execs.

I guess this makes sense. If I wanted to know about how handling explosives incorrectly would potentially lead to my early demise, I guess I’d ask someone who had experience in blowing stuff up. So if you want to talk to a group of people who have done their best to bring the financial world to its knees by focusing on their own self-serving interests at the expense of, well , everything else, I can’t imagine a better group than the aforementioned bankers.

Or maybe we could do the opposite. Maybe we could tell this group to go home and start packing their overnight bags, because we’ll soon be indicting them for fraud and theft of the nation, then we can go about the business of explaining to all of the incumbent Reps, Senators, and White House staff that no, we really don’t have to increase the debt limit.