Sources inside Goldman Sachs have leaked an email indicating that President Obama has had secret meetings with Goldman and Co, “in order to arrange a new debt ceiling, or more accordingly a new line of credit.”
The email goes on to say that this would be “almost like a payday loan.”
Reuters reported, President Obama was scheduled to meet on Wednesday with top bank chief executives to discuss the government shutdown and the looming deadline to raise the nation’s debt limit.
“The Bank chiefs scheduled to meet with the President included Lloyd Blankfein of Goldman Sachs, Michael Corbat of Citigroup, Jamie Dimon of JPMorgan Chase & Co, and Brian Moynihan of Bank of America.”
As the email’s writer points out, for the President to hold meetings of this kind however, could violate the Antideficiency Act of 1870. The Act prohibits any government office holder from incurring any monetary obligation for which Congress has not appropriated funds. As NBC News pointed out just Wednesday,
“CNBC has learned that in several executive branch departments, high-level staff members review individual decisions about what government activities to allow for fear of running afoul of the Antideficiency Act. One White House official said he has advised his employees not to check their email or cellphones. Under the act, even volunteering for government service is expressly prohibited.”
Of course the other major issue here. Is the President asking for the heads of the nations largest banks to make short term loans to the U.S. government? Ultimately, what does this mean for the nation?
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