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Description: If you think the JPMorgan and Wells Fargo earnings reports were disappointing, just wait until the fourth quarter if the shutdown continues and a debt default occurs.

Source: Fortune.com

Date: Oct 11, 2013

Link: http://finance.fortune.cnn.com/2013/10/11/shutdown-default-banks/?iid=SF_F_River

Questions for discussion:

  • Explain the reason for the dire predictions if the current government shut down continues.
  • What does this say about the fragility of the financial system?

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