SIFMA today released the following statement from Kenneth E. Bentsen, Jr., president and CEO, on the debt ceiling:
"SIFMA strongly urges the Congress and President to work together and reach a prompt agreement on the debt ceiling. A default and failure to pay on a Treasury security is an unprecedented event with unpredictable consequences on the global financial system. Our debt is the currency of the world and default should never be an option. Congress and the Administration must not delay any further to avoid market disruption and a negative hit to the economy.”