Debt Ceiling Dysfunction May Spark Market Panic -- Even If U.S. Makes Bond Payments

WASHINGTON -- Financial experts warned Congress Tuesday that a U.S. default may set off financial mayhem that cascades through the global economy. Even if the American government doesn't miss a bond payment, the panel emphasized, Congress would jeopardize the stability of the dollar if it fails to raise the debt ceiling by Thursday. The event, organized by Rep. Maxine Waters (D-Calif.), is the only congressional inquiry into the potential consequences of failing to raise the debt ceiling. Treasu...