GASPARINO: The White House Is Privately Telling Bankers That We Won't Default If Debt Deadline Missed: "It's looking more and more likely that Congress will not hit the August 2 deadline, but according to Charlie Gasparino you should have no fear.
He reports that in secret, the administration has been making calls to Wall Street, telling bankers that the administration will find a way to avoid no matter what.
It's not clear what that means: Payment prioritization, the 14th Amendment option, or perhaps some new special measure Geithner could pull out to conserve cash?"
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