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The public has recognized that Corporate, Chamber of Commerce Republicans,
and Wall Street Democrats
are the same party, and serve the same constituency,
and it’s NOT THEM.

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Sunday, October 22, 2017

HUD Audit Finds Unheard of $500 Billion in Accounting Errors

Ben Carson is the Secretary General of the Department of Housing and Urban Development.

I told you Donald Trump was focused on cutting corruption in Government. I have been writing here that the reason for the overwhelming bi-partisan hatred of Trump is precisely because he is focused on destroying the moneystreams our leaders have set up for themselves under the guise of "Government".

From HUD:

HUD reissued its fiscal years 2016 and 2015 (restated) consolidated financial statements due to pervasive material errors that we identified. 
The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. 
There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. 
These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and general ledger accounts. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.
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posted by Pastorius at permanent link#

8 Comments:

Blogger Always On Watch said...

Frankly, when I heard BHO say time and time again in his scolding, preachy, moral-high-horse way, "We're not a banana republic, I said:

"America, then, must already be a banana republic — or well on her way to becoming one!"

[image]

Sunday, October 22, 2017 3:07:00 pm  
Blogger Kid said...

500 bil? Ah, nothing compared to obama spending 18 trillion on Nothing in America, except entitlements and SS. Still wonder where that money went. Suspect moslems got a bunch,

Sunday, October 22, 2017 11:29:00 pm  
Blogger Pastorius said...

Me too.

Monday, October 23, 2017 12:11:00 am  
Blogger Pastorius said...

I literally never saw anything come out of the "Stimulus".

Monday, October 23, 2017 12:12:00 am  
Blogger Kid said...

Very late in obama's term he was on TV laughing about how there were no shovel ready jobs. This was the flagship of his economic plan. And people still love the POS.

Monday, October 23, 2017 12:28:00 am  
Blogger Always On Watch said...

Kid,
Yes, BHO is still greatly adored.

Did you hear that crowd road on Saturday when the five POTUSES stood up in front of that crowd in Texas? Sheesh.

Monday, October 23, 2017 2:04:00 am  
Blogger Kid said...

AOW, No, I simply can't subject myself to stuff like that. I can barely stand the stuff that gets through all my filters. I so hate what America has become.

Monday, October 23, 2017 3:03:00 am  
Blogger Always On Watch said...

Kid,
It happened to me accidentally. Whatever show I was watching was interrupted to show me those former POTUSES. Ick.

Wednesday, October 25, 2017 12:52:00 am  

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