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At a Politico Playbook breakfast on May 25, Geithner was asked by host Mike Allen about the negotiations over default and the debt ceiling.
They wanted a place at the negotiation table and they wanted dignity in the negotiation process.
During the negotiation.
At the same time, the negotiation dance graph may act as an ex-post monitoring system.
"I was at the second negotiation which occurred.
Both programs were used at the default settings.
"The negotiation is at the political level," he said.
This is why I'm deeply suspicious of claims that either party to the negotiations believes it could benefit from a default.
An aide to Mr. McConnell said the negotiations aimed at preventing a default would continue.
That's the back-pocket default offer, which means the negotiator can always walk away from the negotiations and not be empty-handed.
"A failure of the negotiations, a failure of the programme or a default by the country means even greater sacrifices," he said.
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CEO of Professional Science Editing for Scientists @ prosciediting.com