HUD Audit Unheard of $500 Billion Accounting Errors – Under Obama

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Offline jofortruth

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HUD Audit Finds Unheard of $500 Billion in Accounting Errors – So Bad General Counsel Refused to Sign Report!!
http://www.thegatewaypundit.com/2017/10/obamas-hud-audit-needed-to-be-restated-500-billion-in-errors-and-unheard-of-11-material-weaknesses-in-reporting/

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Obama’s HUD Received One of the Worst Audit Results in US History!

The restated audit report shows the following –

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.

These results are shocking.  If a US corporation had similar results their stock holders would flee, the stock price would quickly plummet and the company would quickly go bankrupt within days!




FannieGate: Obamacare Looting Scheme by diverting Fannie and Freddie Funds

https://livinglies.wordpress.com/2017/05/02/fanniegate-obamacare-looting-scheme-by-diverting-fannie-and-freddie-funds/


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Steve Mnuchin stated Monday on Fox News that President Obama engineered the “Net Worth Sweep” (NWS) in August 2012 to divert funds from the two Government Sponsored Entities (GSEs) to pay for Obamacare, after Congress refused to fund the low-income insurance subsidies critical to keep afloat the Affordable Care Act (ACA).
Don't believe me. Look it up yourself!

Offline jofortruth

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Re: HUD Audit Unheard of $500 Billion Accounting Errors – Under Obama
« Reply #1 on: October 21, 2017, 06:38:39 PM »
HUD is a sewer - Catherine Austin Fitts
http://www.dunwalke.com/7_HUD_is_a_Sewer.htm
http://www.shadowcitizen.online/index.php/2017/06/29/03-01-2017-former-assistant-housing-secretary-catherine-austin-fitts/
https://ratical.org/co-globalize/CAFmoneyTrl.html

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Although HUD's mission involves "spurring economic growth in distressed neighborhoods," the reality is that HUD is an agency run and managed by the departments of Treasury and Justice, Lockheed Martin, JPMorgan Chase, Dyncorp, Harvard, AMS, Arthur Anderson, and others that use the agency for their own for-profit interests.

Don't believe me. Look it up yourself!