Debt Ceiling Politics Worse Than 2011: Schlosstein

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Sept. 19 (Bloomberg) – In today’s “This Matters Now,” Ralph Schlosstein, CEO at Evercore Partners, talks with Tom Keene about the partisanship behind the battle over raising the debt ceiling and offers his thoughts on the candidates for lead the Federal Reserve. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

We wear, washington, this time could be worse.

You have all your radar up in support of obama politics.

Why is this time different?

First of all, the last ballet was pretty ugly.

July, august, 2011, we were just talking about the markets.

The impact of that on the real economy was genuinely harsh.

We probably took a half point to a full point off gdp growth through the ensuing six-month period.

I think we are going into , starting the period of debt ceiling extension with much worse partisanship in washington today than we had in mid-2011, and that is something we should all be worried about.

If speaker boehner's focus is as it was yesterday, giving report -- giving support to republicans now so he can gather democrats to get this done -- i am not sure i understand democratic politics, so i will not understand republican politics.

I have empathy for speaker boehner because he is between two very big rocks.

On one hand it has been a tradition in the republican party, the so-called hastert rule that when republicans control the house, nothing will pass that does not have the support of a majority of republicans.

I have heard through friends and others who i know who are close to the republican party that the speaker has basically said today i do not know what would get a majority.

Should the president focus on vice chairman yellin, or should he open up the search for a new fed chairman, particularly after what we witnessed yesterday?

I think janet yellin is one of the number of very strong candidates.

I feel larry summers certainly was one among those as well . i am sorry he withdrew his name, but you could not be critical of the credentials of mr.

Summers or ms.

Yellin or one or two other people who have been mentioned.

The focus on washington with ralph schlosstein.

So much going on.

That's talk apple.

This is bloomberg "surveillance ."

This text has been automatically generated. It may not be 100% accurate.


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