Shutdown-Debt Ceiling Politics: The Charles Schumer Put

Step aside Alan Greenspan and Ben Bernanke. New York Senator Charles Ellis ‘Chuck’ Schumer has declared that the preservation of stock market has to be prioritized from the shutdown-debt deal stalemate.

From the Zero Hedge: (bold-italics original)

We commend Senator Schumer for being the first Senator to openly step up and admit that the worst case scenario in the whole Congressional 3D IMAX farce is not about keeping the economy afloat, is not about preserving jobs, but merely keeping the stock market at or near its all time highs:

• Schumer Says He Worries About Monday Stock Drop on Default Risk. "This is playing with fire," Sen. Charles Schumer, D-N.Y., tells reporters. Says he worried whether “the stock market will go down”

For those confused, Schumer has merely admitted what the vast majority of the Senate, where two thirds are millionaires, and nearly half the House, think: don't you dare let the manipulated precious, which at last check was just 1% below its all time Fed-balance sheet derived highs, drop.

And speaking of Chuck Schumer's "bottom line", here it is.

Bluntly stated; protect my investments and the interests of my campaign contributors