Editorial, includes “… Last Wednesday a federal jury found that the city of Miami defrauded bond investors by misleading them about the city’s declining financial condition. Specifically, Miami moved funds earmarked for specific purposes into its General Fund to hide fiscal deficits and pretend the city was maintaining robust reserves … If there’s this much financial chicanery in south Florida, imagine how much prosecutors could find in Washington, D.C. Come to think of it, we seem to recall Ms. Warren herself claiming that the student-loan program would ring up huge profits for taxpayers, based on bogus government accounting that undercounts the cost of defaults. …”