Detailed text transcripts for TV channel - MSNBC - 20110804:21:07:00
I think that what we had was, we managed this week to avoid a debt ceiling default, but i think the markets saw over the course of the last three months and month particularly the last three week as political default on the part of both parties, and they're reacting to a lot of thing. obviously, a lot of economic data in europe. bad economic data here, but also to this notion, as you put it, a clinch, a political default, that there is no -- that the government and the united states now is incapability of doing anything ksignificanty avoiding the worst possible catastrophe. the market is react...