Great Damage To The Global Economy Will Be Caused By A Debt Ceiling Standoff

Any delay in resolving the debt ceiling crisis that last several weeks or months "would cause great damage to the U.S. economy and the world economy," Mario Draghi President of the European Central Bank warned this week at the Economic Club of New York, before an auspicious crowd of financiers and investment managers that included the CEOs of Rockefeller & Co., The Blackstone Group, Evercore Partner, GAMCO Investors and Standard & Poor's.