News Copy, New York

Wall Street White Washed World Economic Crisis: Greek Debt Hidden By Goldman Sachs

Why can't these Wall Street wonders just leave the rest of the world alone?  Americans are exporting bad accounting now.

Greece can't be the only country Goldman Sachs helped hide it's national debt. The New York Times described it as being akin to a consumer covering debts with a second mortgage -- but not reporting it as a liability.

"The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards."

Worried about "off-budget" accounting?  Our own Federal government has already laid tens of trillions of such liabilities at our doorstep for a few decades.

World's Most Expensive Credit Card: Democrats Vote To Raise Debt Limit to $14.3 Trillion

Every Senate Democrat voted today to raise the debt limit to $14.3 trillion.

So much for bi-partisan cooperation.  Democrats threw fiscal restraint under the bus.

Michelle Malkin had the details on the 60-40 vote -- along party lines -- in the U.S. Senate.

"Let me repeat that — and let it be repeated loudly and often:  Every Senate Democrat voted to raise the debt limit to $14.3 trillion.  That’s $45,000 per American."

She provided the details on the roll call vote.

Democrats controlled this vote, 60-40, showing no regard for the fiscal consequences.

Why don't they just print every American a bill?

This makes a Congressional voting card the world's most expensive credit card.