BOSTON (TheStreet) -- Eric Singer, manager of the Congressional Effect Fund (CEFFX), laughs when he recalls the last government shutdowns in November 1995, during which he sat with a congressman on Capitol Hill.During the very public battle between then-President Bill Clinton and Speaker of the House Newt Gingrich, expectations were that the stock market would be crushed as Americans lost confidence in the ability of the government. In addition, after threats Gingrich made about refusing to raise the debt ceiling for the Treasury Department, there were fears interest rates would head higher. Singer says the major networks began scrambling to find video footage of a tangible change in function of the government to show U.S. viewers. The results, Singer says, were unintentionally hilarious.
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