Obama to Meet With Bank CEOs Amid Shutdown

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Oct. 2 (Bloomberg) -- Julianna Goldman reports on bank CEOs meeting with President Obama amid the U.S. government shutdown. She speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)


Yes, betty, the timing is very important for them to be coming to the white house today.

First, a little bit of breaking news.

We learned this morning, as peter mentioned, that the shutdown has affected the president for the upcoming trip to asia.

We learned that he is canceling the malaysia and philippines portions, which were scheduled for the backend.

The question is whether he will still go ahead with a planned visit for the rescheduled cover this, the apex summit in bali and the east asia summit and burn -- in brunei.

They are still evaluating and will make a decision no later than friday.

The wall street bankers who are coming here today -- it is important because you are going to start to see the focus of this debate shift away from just the continuing resolution, funding the government, and more to try and solve that in the debt ceiling together.

These two issues are going to merge into one, and the white house thinks that the bank ceo's are the best ones, the best equipped to educate the public on the real-life quantum quizzes of default or new -- real-life consequences of default.

Can they really make a difference, though?

What is obama's relationship with these guys right now?

Some people are skeptical that they will be able to make a difference because nothing right now seems to make a difference with the conservatives, the handful, 20 or so conservative republicans that have really gotten us into this condition.

One theory is that they may be able to exert some leverage on the leadership.

House speaker john boehner, eric cantor, kevin mccarthy -- wall street is a big source of campaign dollars for them.

Them -- even if they cannot change the dynamic of the republican party, maybe they can exert influence when it comes to campaign donations.

Look, the relationship right now between the president and wall street ceo's is probably better than it has been in the past because on the debt limit, this is one issue where the interests are aligned.

Wall street is backing the president when it comes to his insistence that the debt ceiling is not something to be negotiated with.

It is not to be used to extract political concessions.

Thank you, julianna, julianna goldman, our white house correspondent.

I want to bring in a man who is frequently in touch with lawmakers, ceo's, and the president.

He is a friend of the rover and the will be joining us for the hour.

Jim reynolds is the founder and ceo of chicago investment.

Jim, great to have you here today.

We always have you on days when there is a lot of action.

The problem is -- there is no action going on in washington.

Are the bankers going to do any good here visiting with the president?

Betty, i think it is worth a try.

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


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