RICHARD FERNANDEZ: The Lying King. “Lying isn’t free. One of the reasons that the United States has remained the last refuge for money fleeing instability abroad is that those investors trust its institutions. They believed — reasonably until now — that in America the rule of law reigned supreme. They thought — until the administration cast the question into serious doubt — that America was not the banana republic that the possessors of those fortunes sought to flee. That’s why the money comes to America and not, let us say, to the Congo.”

Yes, I said something similar back in 2009, but apparently it didn’t take hold with our political class. But, then, the political class will do whatever it can get away with. These days, it’s been able to get away with more.