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The Fiscal Cliff and Mortgage Banking

OCT 26, 2012 12:24pm ET
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Does anyone really think the president and Congress will allow the so-called ‘fiscal cliff’ to happen? Folks, it’s not going to happen – thanks in part to business leaders the likes of Jamie Dimon at JPMorgan Chase keeping the story alive and hot in the media. But let’s face one fact: America’s business leaders are hardly pro-Obama and I would venture that certain firms are purposely laying off workers or not hiring because of the fear of the unknown – that is, the fiscal cliff. One thing we learned from the crash of 2008: American businesses, when they so choose, can lay off workers at warp speed. Let’s just hope that all the Captain Kirks out there don’t ask Scotty for warp speed 11.

 

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