Geithner Asks Congress to Increase Federal Debt Limit

Nuts.

“Washington — U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is “critically important” that they act in the next two months.”

Get ready for another big bank bailout. Will we see a bank holiday this fall? Max Keiser says 20-25% chance before the end of the year.

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