With the way the economy is going south, maybe the nation should have stuck with Mitt Romney — or at least his fundraiser. Alex Fabian knew how to make money out of thin air — something not even Mitt can do.

Fabian has pleaded guilty in federal court to mail and tax fraud related to schemes in which he defrauded banks and businesses of nearly $40 million. Fabian, a Republican donor and co-chair of Mitt Romney’s national finance committee when he was busted last August on 26 counts including bankruptcy fraud, mail fraud, money laundering, obstruction of justice and perjury.

Would this guy make a great secretary of the Treasury, or what?

Here's how Fabian's scam worked* : Fabian forged invoices to convince a Georgia computer leasing company that he had purchased millions of dollars in computer equipment and software. He then sold the nonexistent products to the leasing company for said millions. Then, leased the imaginary stuff back. He used the proceeds "on a lavish lifestyle and to set up a nonprofit consulting firm."

Fabian faces up to 30 years in prison.

*Mitt supporters, do not attempt this at home!