The government watchdog says it can’t audit billions of dollars in Department of Housing and Urban Development (HUD) funds that are unaccounted for — which includes Ginnie Mae (the Government National Mortgage Assn.) — because the books are a total mess.
They are missing records, are inaccurate and sometimes even violated federal laws, according to a HUD inspector general report released Monday.
HUD’s and Ginnie Mae's accounting has lacked oversight for a decade.
No one knows how much has been wasted and stolen.
Of course, nobody will be fired (see: Lois Lerner, the IRS bureaucrat who targeted conservative and Christian groups for audits because…well, because she hates conservatives and Christians.).
As a former federal bureaucrat (at least my job was to investigate waste and fraud), let me explain how this will come down: The way bureaucracy always deals with a scandal is to (1) ignore it, then (2) deny it, then (3) say they will "study it," and then, if Congress and the press haven't moved on to other scandals, (4) put a lower-level bureaucrat on paid leave (see: Lois Lerner, again, who collected $177,000 salary from the taxpayers while on leave) and eventually a fat retirement (see: Lois Lerner. Oh wait, you can't — she's now living on a beach somewhere collecting a $102,600 pension, up to $3.96 million over the rest of her life, courtesy of you and me).
— W. J. Mencarow, The Paper Source
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