Detailed text transcripts for TV channel - MSNBC - 20110714:

Detailed text transcripts for TV channel - MSNBC - 20110714:17:02:00

don't think you're supposed to signal that you're bluffing. don't call -- you're supposed to say i'm not bluffing. don't call my bluff. but putting that aside for a moment, the most important take-away is these negotiations are producing nothing except hostility and those who are watching it on the outside, bond rating agencies, people who trade in bonds as collateral instruments, after weeks and weeks of saying everything's going to be fine, are now beginning to get to the edge of tense. >> getting nervous. >> very serious scenario for this economy. >> is it possible that this is all a lot of, you know, drama before they actually come together? >> it's pure drama. there's no question about it. >> the storm before the calm. >> no. i have talked and reported with as many different people as i can who are in the room and trying to figure out what the end game can be and will look like. they can't see it yet, because they don't know what can get 218 in the house, combination of republican and democratic votes, and get the 60 vote threshold that you have to have in the

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