Republicans: Hey, Where's the Crash?

Reporting on Politics and Policy.
July 26 2011 9:44 AM

Republicans: Hey, Where's the Crash?

My new piece is all about yesterday's negotiations and roll-outs, with a focus on a factor that Republicans seized on quickly -- the lack of a panic in Asian markets.

"Those of us who were actually paying attention to the issue didn't expect it be apocalyptic," said Rep. Mick Mulvaney, R-S.C. "To think that how we're going to vote today is going to affect markets, I think, is absurd. We're not going to default. We're going to pay our debts. Certainly, Mr. Geithner could come out and assure everyone if he wanted to. He could do that tonight. My guess is he probably wants a little instability in the markets, so he can get some leverage in this negotiation."
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Much more of that at the link. So click it.

David Weigel is a Slate political reporter.