500 billion dollar error found in Housing Department finances

IT ONLY HAS A BUDGET OF 50 BILLION

annually audit the consolidated financial statements of the U.S. Department of Housing and
Urban Development (HUD). HUD reissued its fiscal years 2016 and 2015 (restated)
consolidated financial statements due to pervasive material errors that we identified. Our
objective was to express an opinion on the fairness of HUD’s consolidated financial statements
in accordance with U.S. generally accepted accounting principles (GAAP) applicable to the
Federal Government. This report presents our reissued independent auditor’s report on HUD’s
fiscal years 2016 and 2015 (restated) consolidated financial statements, including an update to
our report on HUD’s internal controls.

==>The total amounts of errors corrected in HUD’s notes and consolidated financial statements were
$516.4 billion and $3.4 billion, respectively.==
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.

WARNING: GOVERNMENT SITE
hudoig.gov/sites/default/files/documents/2017-FO-0005.pdf

BREAK YOUR FUCKING LINKS YOU MOUTH BREATHING CUM GARGLING ABSOLUTE ORLANDO FAG CLUB CUM DUMP

Some kikes are gonna roast for this one

...

It doesn't sound like there's half a trillion missing - I'm not sure how that would be possible on a budget of 50 million.

Are you suggesting that HUD had access to 450 billion more than they should have, and wasted it accordingly? Or, HUD had some shitty accounting practices, and forgot to carry the 1 (albeit 500 billion times)?

Seems like it, so it was run by retards. Who knows how much money they lost.

Pimpin ain't easy

This scheme is partly how obamacare was paid for

This method of funneling cash was used in many other levels of the beaurocracy

If Trump wasn't elected we would have 100% turned into a third world banana republic wouldn't we?

You are just as retarded for mindlessly clicking links you turbo faggot. Also install a referral block already you fuck.

So this is basically proof of fraud, right?

Well the pools closed, sleepy Niggers ending the hood party.

Keep in mind, most of America has most of their money in there house.

Crash the housing market, or steal it to pay for nigger care, and you are literally stealing from middle class whites all their savings.

This could be memory holed given some big event such as war or a pearl harbor like event. Remember Enron, no?, well that's my point.

The implication being that I bother to click them in the first place.

I guarantee this is a small drop in the bucket in government (((accounting errors))).

CPA here

This language is very, very damning in accountant speak. They are basically saying they uncovered massive and widespread fraud enabled by lax or nonexistent financial controls. This is about as strongly worded as an Audit can be, it screams at anyone who knows the language HEY THERE WERE CRIMES COMMITTED HERE!!! After all, that's exactly what it's intended to do.

Worse. If you're white we probably literally dodged a bullet. This appears to me to be a plan engineered to destroy America.
The Alex Jones of 2008 was right: Obama is a Marxist who's mission it is is to destroy the U.S. from within.
Every one of the people helping institute this needs to be locked up never to see freedom again for the rest of their natural or unnatural lives.

The Alex Jones of 2008 was right: Obama is a Marxist who's mission it is is to destroy the U.S. from within.

Pure crystalline truth.

It doesn't take a doctorate in accountant speak or legalese to get the gist of it.

Hey how do we know the debt is actually at the level (((they))) say it is? Is it possible they hid more massive unfunded liabilities in the bureaucracy?

double dubs of truth. Also is it not sad to post "Alex Jones was right."

How do Israel and Time warner let him say so much?

Because they do not directly control him. They just allow and likely helped him grow due to him being blue pilled on the JQ. Why fund and train your own controlled opposition when you can save $$ and guide the course of someone who would otherwise be your opposition.
do not forbet that Die juden are frugal with their own resources, it's your resources they use to splurge on ebony dragon dildos.

Fuck that, the guy has way too many CIa assets feeding him shit, he knows, and he doesn't care because they pay him to talk and tell him everything to say.

Seems to me that he has two kind of Feds feeding him info.
Type A: the disinfo type who send him info in order to help control the national narrative.
Type B: the whistleblowers who see him, and more importantly his hundreds of radio outlets and website/internet outlets, as the best method to spread what they know.
Type A is the most numerous, but the type B is what makes him so dangerous to both TPTB and to those who wish to for truth to be the narrative. Type B's lend him credibility that cannot be easily assailed by either party.
He seems, to me, to be a useful idiot that Holla Forums, and those like it, can use to the benefit of The People.

Also an accountant here. An audit is worthless without enforcement of the laws. Who is going to take the government to jail? Who is going to knock on the doors? You can scream all day about the wrongdoings, and it's another scream in the abyss. This was proven by the 2008 fiasco and the golden parachutes. Until someone is in prison, your audit is toilet paper.

There have been numerous uncoverings of massive fraud and black holes within government funding, and what has been done about it? Have we hung anyone? Have we reclaimed the money? Have we stopped the funding leaks and embezzlement, have we disbanded the corrupt organizations?

Without enforcement, the law is a polite suggestion.

At best, if anyone notices then the US bond rates and the currency value might slightly dip. Slightly. Every nation in the world is fucked, so an individual nation being fucked is no longer damning.

We've had enough information uncovered to justify a terminal prison sentence for every fly in the swamp, and yet the flies are still free. More information does not help us. Action does. Unless Trump makes some new order of police who have authority over the government itself, what can anyone do? Even a french revolution won't bring the money back. This audit report is just telling us what we already know.

Alex Jones has a persona like a wrestler that we see for dramatic effect, but from what I know knowing people who are around him that he genuinely believes what he's talking about and his self driven mission in life. I believe he is just easy to steer with misinfo that he gets taken advantage of by what he perceives are his enemies.

what the fuck people

Accounting errors =/= missing funds. Accounting errors are the total number of mistakes on all bookeeping records added up. Until the errors are fixed and the audit is finished there is no indication how much money is actually missing. Apparently $6 billion is missing in total.

Welp that gives the term "black budget" a whole new meaning.

Bump. Surprised this hasn't gotten more attention.

(((error)))

The HUD's mission statement in pic 2 essentially describes an absolutely meaningless bureaucratic institution in a hard working homogeneous society. Save for the part about protecting housing from the environment, but counties can do that by themselves individually with a separate budget.

LBJ signed this pile of shit into legislation. I'm guessing it has Marxist and Semitic roots and serves as a massive money laundering scheme, as well as the instrument of destroying communities by forcing foreigners and other minorities into homogeneous populations.

It's massive money sink that needs to be repealed.