Posted on Apr 7, 2017
Dr. Ben Carson Finds $516+ Billion in HUD Budget Errors - Uncle Sam's Misguided Children
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There is a lot going on...internationally and at home. I find it interesting that there has been very little coverage on what Ben Carson is uncovering over in the HUD Budget. It will be interesting to see how this is spun.
Dr. Ben Carson Finds $516+ Billion in HUD Budget Errors - Uncle Sam's Misguided Children
Posted from unclesamsmisguidedchildren.com
Barack Obama
Donald Trump
Ben Carson
Posted 6 y ago
Responses: 7
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What the hell does a surgeon know about managing HUD? Apparently a helluva lot more than the "experts" that preceded him
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Anonymous
They're making us look at our military budget, why not look closely at other government budgets? Oh wait, because it makes sense...
Anonymous
Didn't say it was wrong but we're under constant scrutiny. When was the last time HUD had their books looked at? By a non-politician?
1stSgt Nelson Kerr
They have been giving the military a pass budgeting that no other agency has had and have been doing so for decades, When was the Last audit of one of the services? All Branches and offices of the government should be audited on a regular basis.
When was the last time you heard of a major military audit?
When was the last time you heard of a major military audit?
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Anonymous
1stSgt Nelson Kerr - you're kidding right? ever heard of triple A? military personnel force structure is validated every year and then there are the various watch dog agencies. Mr. Kerr, please get your account validated so I know if you are really a vet.
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And one commentator at the end tried to say that because it started in December that it was not Dr. Carson's purview - lol, smh. Don't people understand what a transition team does?
And then the same commentator states this was just an accounting error - "The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively." That IS NOT an accounting error, that is criminal. AND it occurred on Mr. Community Organizer's watch.
And then the same commentator states this was just an accounting error - "The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively." That IS NOT an accounting error, that is criminal. AND it occurred on Mr. Community Organizer's watch.
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Capt (Join to see)
I suppose you have more experience than I but, mine does include reading IG reports that are not necessarily reliable. Point is all of the stuff was done before this admin and it has been discovered. Will it get corrected? Who knows. Better question might be how was it allowed to happen?
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SSG Robert Webster
LTC (Join to see) - I'll smh when this version happens to be Version 4 which does appear to be a re-written version of Version 3; considering that V.3 has 101 pages and V.4 has 126 pages. One other thing to indicate that this is an updated special version is that most of the past reports are dated November of the respective year, whereas the one in discussion is dated March.
We might just ask the accountants on here about GAAP and financial reporting laws and regulations as to if there is a possible criminal action here. However, we probably do not need to since in the summary statement it definitely implies it, to wit: "This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations." Ask any accountant/CPA what that statement can imply and what it means.
Or how about this - for FY 2014 HUD's annual budget was $32.6 billion, and the proposed budget for FY 2017 is $48.9 billion AND there is an admitted discrepancy of $516+ billion in their audit, that is TEN TIMES the size of their budget. And you do not see anything wrong?
We might just ask the accountants on here about GAAP and financial reporting laws and regulations as to if there is a possible criminal action here. However, we probably do not need to since in the summary statement it definitely implies it, to wit: "This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations." Ask any accountant/CPA what that statement can imply and what it means.
Or how about this - for FY 2014 HUD's annual budget was $32.6 billion, and the proposed budget for FY 2017 is $48.9 billion AND there is an admitted discrepancy of $516+ billion in their audit, that is TEN TIMES the size of their budget. And you do not see anything wrong?
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SSG Robert Webster
LTC (Join to see) - And your point being? I would put even money on the possibility that it was the transition team that asked for the updated audit report, and that it specifically came from Ms. Shawn Krause.
https://www.bloomberg.com/research/stocks/private/person.asp?personId=314423962&privcapId=383606&previousCapId=383606&previousTitle=Quicken%2520Loans%2520Inc.
https://www.bloomberg.com/research/stocks/private/person.asp?personId=314423962&privcapId=383606&previousCapId=383606&previousTitle=Quicken%2520Loans%2520Inc.
Shawn Krause: Executive Profile & Biography - Bloomberg
Ms. Shawn Krause has been Executive Vice President of Quicken Loans Inc. since October 16, 2015. Ms. Krause leads the Quicken Loans government advocacy program and spends a considerable amount of time in Washington, D.C. working alongside & educating policy makers on mortgage banking and housing is
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SSG Robert Webster
Capt (Join to see) - Subprime mortgage crisis, does that ring any bells?
See the following -
https://en.wikipedia.org/wiki/Government_National_Mortgage_Association
https://en.wikipedia.org/wiki/Freddie_Mac
See the following -
https://en.wikipedia.org/wiki/Government_National_Mortgage_Association
https://en.wikipedia.org/wiki/Freddie_Mac
Government National Mortgage Association - Wikipedia
The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing finance in America by linking domestic and global capital to the nation's housing finance markets, providing market liquidity to federally sponsored...
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