Wells Fargo ex-CEO: Default would be 'horrendous'

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Wells Fargo ex-CEO: Default would be 'horrendous'

Wells Fargo ex-CEO: Default would be 'horrendous'
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Wells Fargo ex-CEO: Default would be 'horrendous'

by CNBC Videos 5:08 mins

Defaulting on its debt would be much more serious than any fiscal cliff or government shutdown, former Wells Fargo Chairman and CEO Dick Kovacevich says.

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