US Shutdown Day 3 "This time's different"

President Obama had a meeting with Republican and Democrat leaders of the House and Senate which went nowhere.

Mr Boehner left the talks complaining the Democrats "will not negotiate".  Mr Obama said he would not set a precedent where "an extremist wing" of a party holds a government to ransom.  He told CNBC ahead of the meeting that he was "prepared to negotiate on anything" over the budget once Congress passes "a clean piece of legislation that reopens the government".

This theater is just Act 1 of the drama,  the Debt Limit will have to be raised in 2 weeks or the government will default of some payments and that's when the stuff really hits the fan, tarnishing the US credit rating and shutting down services to the most vulnerable in our country.

"This time's different"
So far the markets have yawned, but that will change soon.

Earlier Wednesday, Mr. Obama said that Wall Street should be worried about more serious consequences now that the government is closed for business and the debt limit deadline is just around the corner.
"This time's different," Mr. Obama said in an interview with CNBC that aired Wednesday afternoon. "I think they should be concerned."

The president told CNBC's John Harwood that he told the financial leaders "that it is not unusual for Democrats and Republicans to disagree -- that is the way our founders designed our government." However, he continued, "When you have a situation in which a faction [of Congress] is willing potentially to default on U.S. government obligations, then we are in trouble."

 More drama to come in Day 3 I'm sure.