One thing everyone can agree on in the short term is dealing with the fiscal cliff. Chanos, who has asked Republicans to be more specific with their plans to raise revenues. "It's all well and good to say 'I want to lower rates or at least not raise them and I want to close loopholes.' My answer is, which ones? Be specific, please. List them in order," he said. Once you start going to things like mortgage interest deductions or charitable contributions, you begin to realize that tears the economic fabric in other ways. How about we start with carried interest? No one seems to want to put that on the table. What about corporations accruing but not paying their federal taxes by keeping their profits offshore?" [AR]
If You're Not Pissing Your Pants In Fear Over China, You're Not Scared Enough: Jim Chanos
You should be on your third or fourth pair of pants right now, according to the short seller.