You won't have to wait long before GLW gets below $8.00
WALL STREET INCREASINGLY ANXIOUS OVER FISCAL CRISES - Zach Carter: "Wall Street is growing more skittish about the prospect of the U.S. defaulting on its debt now that an indefinite government shutdown has resulted from GOP House members' refusal to fund the government without hamstringing President Barack Obama's health care reform law. 'So far, there are no signs of heavy political damage so the chances of Washington going beyond October 17 without a debt ceiling agreement continue to rise,' Keefe Bruyette & Woods analyst Brian Gardner wrote in an Oct. 1 note to clients. 'We now think the chances of this occurring are 40% (up from 15-20% last week).' Treasury Secretary Jack Lew wrote a letter to House Speaker John Boehner (R-Ohio) on Tuesday saying that the government will be unable to avoid defaulting on its debt if Congress does not raise the debt ceiling by Oct. 17. 'There are no other legal and prudent options to extend the nation's borrowing authority,' Lew wrote. everal experts have warned that a U.S. default, however brief, could trigger a financial crisis akin to what happened after Lehman Brothers filed for bankruptcy in 2008."