Where is this trillions? Is that why the bailout?

[RodISHI]

Did this question ever get resolved or is that why we all the sudden are having these bailouts and so called stimulus plans?

I have. I have been watching this unfold since 2002. As that is when I refused to sign a waiver against any and all claims against Wells Fargo concerning my SBA loan that was nothing more than an attempt to make off with not only property that was not owned by me but also make the federal government (taxpayers)pay for it.

Just a few thoughts for you all to consider if you are truly interested in what has been happening.

STATEMENT OF
SUSAN GAFFNEY, INSPECTOR GENERAL
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

BEFORE THE HOUSE OF REPRESENTATIVES
COMMITTEE ON GOVERNMENT REFORM
SUBCOMMITTEE ON GOVERNMENT MANAGEMENT,
INFORMATION AND TECHNOLOGY
MARCH 22, 2000


"The audits were were perform by the independent accounting firm of KPMG LLP, under contract with the OIG........"

1999 financial statements...."

"At the time we discontinued our audit work, a total of 42 adjustments totaling about $17.6 billion had been processed in this manner to adjust fiscal year 1998 ending balances. An additional 242 adjustments totaling about $59.6 billion, were made to adjust fiscal year 1999 activity."
Has anyone else been watching how many firms that have had problems when KPMG does their accounting or is it just me?

Google Search.... KPMG sued for accounting errors. What was taken out by accounting errors?

I think we all should have some real concerns here people when the government is spending so much!! and they can not or will not account for what they already have been given.

Estimate $3.3 Trillion
Missing From U.S. Treasury, August, of 02

According to estimates, the Department of Defense and the Department of Housing and Urban Development cannot account for over $3 trillion allotted to them by Congress, amounting to thousands of dollars of missing money for every man, woman and child in the country....................

Department of Defense
Independent Auditors Report on the FY 2001 DoD
Annual Financial Report and Report on Internal Controls and
Compliance with Laws and Regulations

Part four, Page 6 of 12, paragraph 2
Accounting Entries
We reported that DoD processed $1.1 trillion in unsupported accounting entries to DoD

A site worth reading through. Articles on Catherine Austin Fitts' Blog:

The Real Deal: The Great "Incompetency" Heist
Tuesday, 23 May 2006, 1:49 pm
Opinion: Catherine Austin Fitts

"I never cease to be amazed at the extent to which successful policies are portrayed as failed policies, and the transfer of public resources to private parties are spun as the result of government and bureaucratic “incompetence.”...........

by Catherine Austin Fitts and Carolyn Betts, Esq.

(1) Crime that pays is crime that stays.

There is reason to believe that Wall Street and those they represent are holding loans without collateral, multiple loans secured by the same properties, and other fraudulent instruments among the “troubled assets.” Based on the secret “Treasury Conference Call” with 800 Wall Street insiders, we know the deal proposed to be passed by Congress isn’t the real deal promised to Wall Street.

(2) This smells like obstruction of justice.

Bail-out without due diligence of so called “troubled assets” is a perfect way to hide documentation of financial crimes. It is also a perfect means to launder both the past ill-gotten gains and new federal money spent recklessly and without necessary safeguards and oversight mechanisms. Be very suspicious when they tell you “we just can’t tell what’s in these troubled assets.” We can assure you that the federal government has field offices all across the country that deal with significant amounts of real estate and mortgage assets on a dailyl basis. If Treasury refuses for more than a decade to comply with the laws, with approximately $4 trillion missing (and counting), it is not competent to manage $700 billion of taxpayer money while its arm is twisted by Wall Street.