Barry Ritholz: "We don't really care about the stuff that's going on in D.C."

Earnings are at a very high cyclical level.  And if we do anything to damage that, you risk a 20% to 30% correction in the market if this [government shutdown] goes on for a month or longer,

All the U.S. obligations are money good.  [The Treasury Department could continue to] move stuff around [to temporarily avoid hitting the limit.]

We really don’t care about any of the stuff that’s going on in D.C.  Our view is as long as this is resolved in a week or three, it’ll be okay.  [Late into the third week of a shutdown, the firm would look at hedges and lightening up.]

~ Barry Ritholtz, "A one-month shutdown risks triggering 20% to 30% correction: Barry Ritholtz," The Tell blog (MarketWatch), October 7, 2013