July 22, 2011

John Cooney quoted in Bloomberg Government on the debt ceiling

1 min

Venable partner John Cooney was quoted in a July 19, 2011, Bloomberg Government article about the ongoing debt ceiling debate and offered advice on how federal government contracts should prepare for a potential default.

Cooney said, "The first thing the contractor can do is it can make certain it has backup lines of credit or other sources of liquidity...A second thing a contractor can do is pray that the banking system is still functional at a time when it needs to draw on those backup lines."