Conventional wisdom is that House Speaker John Boehner has been afraid to defy the Ted Cruz-inspired House members who have insisted on closing the government and holding the debt ceiling hostage unless President Obama agrees to delay or defund Obamacare. The assumption is that Boehner fears that the most zealous Republicans in his caucus would turn on him and remove him as speaker. With that in mind, there’s one story I’ve been waiting for and still haven’t seen: Why haven’t the Democrats offered to protect Boehner if he runs into trouble by allowing the full House to vote to reopen the government and extend the debt ceiling?
Stories I’d like to see
1. Printing drachmas?
What actually will happen if Greece leaves the euro zone and goes back to its own currency? How would that work? Is there a printing press somewhere busily churning out drachmas just in case? Or did they keep the old ones in storage? How will Greeks get new drachmas? Will they exchange their euros for them? How will the exchange rates be determined? How will all the software for cash registers and credit card and e-commerce transactions be reprogrammed?