Fed Housing Dept Has $43 Billion Worth Of Indecipherable Records – IOTW Report

Fed Housing Dept Has $43 Billion Worth Of Indecipherable Records

DailyCaller: Department of Housing and Urban Development (HUD) officials have ignored 63 financial management recommendations from Congress’ investigative arm since 2012 and only half-heartedly followed many more, resulting in the $43 billion agency’s books to be all but useless.

Things have gotten so bad at HUD so rapidly, that auditors who found only one “material weakness” in the department’s accounting in 2012 found nine in 2015, according to a Government Accountability Office (GAO) report published Monday.

Housing Secretary Julian Castro, who has been at HUD’s helm during much of its slide into financial disrepair, was prominently mentioned prior to the Democratic National Convention as a potential running-mate for Democratic presidential nominee Hillary Clinton.

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12 Comments on Fed Housing Dept Has $43 Billion Worth Of Indecipherable Records

  1. Remember that scene in Fargo where Macy (Lundergard) pencils over the list of VIN numbers, making them unreadable?

    Fraud, waste and abuse. Bye bye under Trump.

    Trump/Pence 2016!

  2. The primary role of the president of the US is not the political one but the administrative one – oversight of hundreds of thousands of employees, dozens of departments, etc. From the BP scandal on it has been very clear to me that not only was the 0bama administration doing a poor job of administration, it was actively failing to do its job so it could create further problems, to be used for political gain.

  3. Is there a single well run governmental agency in this entire country? HUD’s records may be indecipherable, but at least they exist.

    On January 31, 2015, a huge warehouse in the Williamsburg section of Brooklyn that was used for records storage had its
    contents completely destroyed in an enormous fire. One of the entities had its records burned to a crisp was New York City Family Court.

    There were no microfiche or other types of backups. Court orders entered after September 2, 2003 can be printed from a computer database, but without a judge’s signature they’re worthless (the court did not start using electronic signatures until 2015).

    That this happened is bad enough. But what’s worse is that there has been no communication at all from anyone in the court system to the employees about this problem. To this day I’m not sure precisely which records were lost (I’ve heard anything before 2004, but have no official confirmation), or, more importantly, what we are doing in cases where litigants and attorneys ask for copies of documents that were destroyed.

    Left Coast Dan raises an excellent point by reminding us that employees of our various governmental agencies are ADMINISTRATORS first and foremost. Unfortunately, many of these elected officials are ideologues to the nth degree, and bring a completely unsuitable skill set to the task at hand. My holy trinity of the three politicians I’d love to see impeached/assassinated–Obama, Cuomo, and deBlasio–is Exhibit A in my argument. One of the reasons I favor Trump’s election is that his whole career has been about managing resources to achieve optimum results.

  4. So, financial discord at a State Dept, DOD, IRS, what else. All created huge funds, unaccounted for, because NO ONE has demanded budget accountability!

    Slush Everywhere Obama has touched.

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