Bernanke Warns That Lawbreaking Must Be Allowed

by: Karl Denninger

As Treasury sells debt today that puts it over the debt limits, Bernanke says:

Federal Reserve chief Ben Bernanke reinforced his call on Thursday for Congress to raise the cap on U.S. borrowing, saying a failure to do so could lead down the same risky path that the failure of Lehman Brothers did.

According to the most recent public figures, the debt was just $14 billion shy of the cap.

Uh-huh. How much did we sell in 30s today?

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And yesterday's 10-year auction?

(The latest Treasury balance sheet is from the 10th.)

Do those two auctions add to more or less than $15 billion?

That's what I thought. If the law does not apply to the government and particularly the administration, can you please explain to me why anyone else in the country -- most especially the common man who has been continually violated by these clowns in Washington, D.C. -- bothers with the alleged moral and ethical imperative to follow the law?

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