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View Diary: Chamber of Commerce to Target Certain Tea Party Members While Tea Party Targets Incumbent Senators (43 comments)

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  •  I think that the tea party members who (8+ / 0-)

    seemed to think that there would be no negative impact from a default are not pro business. A default would severely harm business interests in this country.  

    •  Perhaps. But I doubt that any member of (1+ / 0-)
      Recommended by:
      greenbird

      Congress believed there would be no negative impact from a US default on its debt.  But as we learned in 2007-8 there is a $40 trillion business in financial derivatives.  One party's loss is another party's windfall.

      I'm sure there are many people (business people) who would have made a healthy profit if the US defaulted on its debt.  Unfortunately derivatives aren't regulated so we may never know who, if anybody, bet against the US.

    •  My suspicion is that these certain TPers... (2+ / 0-)
      Recommended by:
      Youffraita, a2nite

      really dislike bankers and Wall Street. They're the same ones who hated the bail out.  They may still be pro-business, but they aren't quite smart enough to see the intricate web that is the total economy which connects banks to business.

      All they saw was: "Screw the bankers and Wall Street!" Or that was a large part of it in my opinion.

      "Those who can make you believe absurdities, can make you commit atrocities" Voltaire.

      by JWK on Thu Oct 17, 2013 at 11:34:32 PM PDT

      [ Parent ]

    •  American free enterprise routinely courts (0+ / 0-)

      failure because it has government backing for its monopolistic interests and to provide a steady stream of money. Subsidies are almost universal and the designation is probably a misnomer. Without the constant infusion of dollars, most businesses would collapse. In fact, most do, despite privileged legislation and monetary support. Not meeting one's obligations (payroll, contracts, delivery dates, completion targets) is a feature, not a bug. That the habit would spread to government is not a surprise, especially now that competition has been redefined as an elimination contest.
      American free enterprise is a bloodless sport to the death.

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