Wall Street sounds alarm over debt limit

A collection of CEOs from financial institutions met with President Barack Obama on Wednesday to raise concerns about the serious implications of a potential breach of the U.S. debt limit. Bank of America CEO Brian Moynihan said the executives discussed the long-term effects of a government shutdown and a debt default with Obama and Treasury Secretary Jack Lew. "We spent most of the meeting talking about what we see in the economy and how we see it being affected by that -- and we see serious repercussions," Moynihan said.

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