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Tyler Durden
This has many wondering if the whole SEC action against Goldman (which some have already pointed out is a rather weak case) is nothing but smoke and mirrors to distract the broader public for a few weeks until anger once again dies down while in the meantime the administration pushes this country deeper and deeper into insolvency. If it means sacrificing the SEC which, whose downfall is a given anyway, and will take a few years of legal wrangling and millions in legal fees charged to Goldman's shareholders, so be it. For those who care where the real news is, we direct your attention to today's Daily Treasury Statement, which disclosed that total US debt just jumped to $12.817 trillion, $51 billion higher on the day, $101 billion higher for the month of April, and $965 billion higher for the fiscal year beginning October 1, 2009 (so six months ago).
Today the US debt increased by $51 billion
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