John Bogle is a smart man:
"The first time a white-collar criminal goes to Attica is the last time you'll have any corporate crime," Bogle said. "But I imagine five years in Attica is just as bad as 10."
So true. Now, if we could get the criminals in the administration and Congress to Attica, we'd have something.
Only a couple trillion dollars missing, according to the GAO, but no one is excited. After all, it's only taxpayer money, not theirs.
newhouse.com
almartinraw.com
"...To put it in historical context, the GAO Report of 1988 stated that of the $531 billion spent by the Department of Defense from 1982 to 1988 under the guise of developing Star Wars projects, over 50 % of the money could not be accounted for.
In 1989, FARCO (Foreign Asset Recovery Control Office) revealed that during the peak years of expenditures on Star Wars programs (1985-1986), there was an enormous increase in the opening of offshore accounts by senior Reagan-Bush officials, including senior military officers and others closely connected to the Reagan Bush Regime, particularly in the defense industry.
That's one of the mandates of FARCO - to maintain an account of the flow of US monies as to foreign deposits.
According to a syndicated Newhouse report, current Department of Defense fraud is even worse than anyone can imagine. "For fiscal year 1999, the Pentagon Inspector General reported $2.3 trillion worth of untraceable accounting entries…"
"For fiscal year 2000, auditors or the Pentagon's inspector General's Office found $1.1 trillion in bookkeeping entries that could not be tracked or justified," (Story)
This was barely a minor blip in the news. |
