Blackstone exec warns of economic Armageddon

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Blackstone exec warns of economic Armageddon

Blackstone exec warns of economic Armageddon
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Blackstone exec warns of economic Armageddon

by CBSTV Videos 2:10 mins

Tony James, President and COO of the Blackstone Group, likens what's happening in Washington to a game of Russian roulette. He warns that if a deal on the debt limit can't be reached and the Treasury stops paying people, the consequences will be dire. Scott Pelley reports.

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