Former U.S. Treasury secretaries urge congressional leaders to raise debt limit

  
  Analysis

The Washington Post reports

The Washington post is reporting that former Treasury Secretary Mnuchin and Paulson both spoke privately with Senate Minority Leader McConnell on the debt ceiling risks.

The article the noted.

Two former GOP treasury secretaries held private discussions this month with Treasury Secretary Janet Yellen and Senate Minority Leader Mitch McConnell (R-Ky.) hoping to resolve an impasse over the debt limit that now threatens the global economy, according to four people aware of the conversations. The previously unreported talks involving the GOP economic grandees – Henry Paulson, who served as treasury secretary under President Bush; and Steven Mnuchin, treasury secretary under President Trump – did not resolve the matter and the U.S. is now racing toward a massive fiscal cliff with no clear resolution at hand.

Now both Mnuchin and Paulson have positions within the financial arena which would get hurt if there is no deal.  Mnuchin has taken a leading role at several hedge funds, while Paulson lead to a multibillion-dollar investment fund. So there is some skin in the game if there were a collapse from not resolving the impasse.
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