More than 140 top business executives, including Goldman Sachs Group Inc. Chairman and CEO David Solomon, urged President Joe Biden and top congressional leaders to act swiftly to avert a “potentially disastrous” US debt default.
Stresses on the economy are already surfacing in recent bank failures, the executives warned in an open letter to Biden and congressional leaders including House Speaker Kevin McCarthy. “Much worse will occur if the nation defaults on our debt obligations, which would weaken our position in the world financial system,” they said.
