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Wednesday, April 5, 2017

Corruption or Incompetence?


Ben Carson has uncovered half a trillion dollars in bookkeeping errors in Obama’s HUD
by Thomas Madison
April 5, 2017
So, where is the money?
Ben Carson has revealed massive incompetence and possibly corruption in Obama’s Department of Housing and Urban Development, with over half a trillion dollars improperly accounted for.
The inspector general (IG) for the Department of Housing and Urban Development (HUD) revealed this week that for three straight years, Obama’s HUD staff cooked the books, according to. These morons wouldn’t know a balance sheet from a fitted sheet, reports Blacksphere.
HUD’s books are in such bad shape that the IG can’t complete an audit on their second try.
Here’s what happened on the first try:
According to the IG report, after the first review, Obama staffers had to correct a whopping $520 billion in bookkeeping errors.
When the IG remained unable to issue an opinion for fiscal years 2015 or 2016, he gave Obama staffers a three-month extension. Thus, their reprieve allowed them to fix $3.4 billion in 2015 errors and $516.4 billion in 2016 errors.
After HUD’s re-submission of paperwork, 11 material weaknesses, seven significant deficiencies, and five instances of failure to comply with laws and regulations remained unresolved.
The continued problems “were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial staff, and identify appropriate accounting principles and policies,” the IG said.
If the Obama team hired qualified staff, the unresolved issues below would already be resolved:
HUD lawyers repeatedly refusing to sign a management letter listing all HUD litigation
HUD’s improper accounting methods
Failure to correctly measure assets and liabilities
Discrepancies between general ledger and sub-ledger accounts
Lack of sufficient support for an audit of $4.2 billion in loan assets from Ginnie Mae’s financial statements.
The Fix was simple. Obama’s HUD needed to “comply with generally accepted accounting principles.”
Yet, Obama’s HUD lackey, Brian Sullivan said otherwise. In December 2016 he claimed:
“HUD does apply generally accepted accounting standards,” despite the IG report that we do not.
Ironically, Senate Democrats rushed to condemn Dr. Ben Carson, the former neurosurgeon who President Trump tapped to be his new HUD Secretary. Further, Senate Minority Leader Chuck Schumer (D-NY) argued:
“I have serious concerns about Dr. Carson’s lack of expertise and experience in dealing with housing issues. Someone who is as anti-government as him is a strange fit for Housing secretary, to say the least,” Schumer said in a statement.
And House Minority Leader Nancy Pelosi (D-CA) called Carson a “disconcerting and disturbingly unqualified choice.”
As we say of Leftists, they accuse you of what they are.
Dr. Ben Carson is undoubtedly qualified to run HUD or anything else in the government. Now the distinguished doctor must clean up billions of dollars in sloppy accounting left undone by his predecessors.
However, the real question may be, “Where’s the money?”
Regardless, you can bet that Dr. Carson and President Trump will follow the money.

Source:   The Powdered Wig Society  

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