Watch Art Cashin: The REAL reason DC's still shut down

Friday, 4 Oct 2013 | 2:59 PM ET
90 Seconds with Art Cashin: Tiptoe into the weekend
Friday, 4 Oct 2013 | 11:40 AM ET
CNBC's Bob Pisani and Art Cashin of UBS discuss the political goings-on this week. The market is somewhat oversold, says Cashin, and the floor feels both sides are using the shutdown for political purposes.

Art Cashin says traders have a very cynical explanation for why the government shutdown fight hasn't been resolved yet.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that "they don't want to cut it off because both sides are getting partisan donations pouring like a water faucet in as long as they go nose to nose."

Cashin predicts that once the contributions start to dry up, Congress will go back to "doing the people's business."

In the meantime, stocks will try to "tiptoe" into the weekend.


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