‘Embarrassed’ Corporate Leaders Quiet on Fight

[OhioChick]

- Aug 1, 2011 7:05 PM ET

With the U.S. government on the verge of a historic default, the country’s largest business lobbying group took to the halls of Congress last week to press lawmakers to support the Panama Free-Trade Agreement.

The U.S. Chamber of Commerce sponsored a “door knock,” with 80 members handing out Panama hats to tout a trade deal with a nation that has a smaller economy than Akron, Ohio. To critics, the Chamber event illustrates what has been a deafening silence from U.S. executive suites on the gridlock in Washington over raising the federal $14.3 trillion debt ceiling.

“They haven’t done nearly enough to sound the alarm,” said Jim Kessler, vice president for policy at Third Way, a Washington research group that describes itself as advocating “moderate policy” and has executives from Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) on its board. Executives “think this is all Washington theater, and it will all get done in the end.”

The Chamber, which last week began to issue almost daily pleas for the debt ceiling to be raised, today urged lawmakers to approve the package worked out by President Barack Obama and congressional leaders and passed by the House. The Senate may vote as early as tomorrow. In the months before the weekend compromise, company lobbyists and executives had mostly steered clear of the fight.

More: http://www.bloomberg.com/news/2011-08-01/-embarrassed-ceos-silent-on-debt-debate-driven-by-republicans.html

[KT2000]

1. How weird

when regular old citizens "door knock" the doors are locked and the police are called. Weird.