Lew: Not Raising Debt Limit Would Be ‘Disastrous’

Aug. 22 (Bloomberg) -- U.S. Treasury Secretary Jacob J. Lew said a failure by Congress to raise the $16.7 trillion debt limit would “have disastrous effects for our nation” and could put at risk payments to Social Security recipients and veterans. Peter Cook reports on Bloomberg Television's "Street Smart." (Source: Bloomberg)
China a 'Command Economy,' Not Market Economy: Every
15:16 - Michael Every, head of financial markets research at Rabobank Group in Hong Kong, talks about China's stocks, policies and economy. China’s Shanghai Composite Index fell to a three-month low on concern a raft of measures to stabilize equities is failing to stop the bear-market rout as traders unwind margin bets at a record pace. Every speaks with Angie Lau on Bloomberg Television's "Asia Edge." (Source: Bloomberg)
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