World top bankers warn of dire consequences if U.S. defaults

By using Emily Stephenson WASHINGTON (Reuters) – Three of the world's most powerful bankers warned of terrible penalties if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default can be "completely catastrophic." "This is able to be an awfully rapidly spreading, fatal disease," Jain stated on Saturday at a convention hosted by means of the Institute of World Finance in Washington. "I have no recommendations for this target audience…about striking band aids on a gaping wound," he stated. …