This may be the biggest accounting fraud in history

[Belsnickel]

(09-12-2019, 04:31 PM)bfine32 Wrote: Because if the true reason they Nationalized the program was because private lenders were getting out of the market and you tell the American people the reason you're doing it because it's a business model that can earn us Millions of dollars; then you are purposely misleading the American people.

IMO that would prove the intent that I have said was missing to assert accounting fraud.

Except that the information they were basing the assertion that it would earn money was based on a statement from a nonpartisan governmental agency over which neither Congress nor the White House had any authority. Were it fraud of any sort it would need to be proven that there was undue influence on the CBO in producing those figures from someone. As this time, there is no evidence of anyone doing such a thing.

i'm looking at this through a COSO lens as that is my job now, internal control/risk management. It is my job to find fraud in a public sector agency. Albeit I don't have all the information, nothing being presented here is evidence of any sort of fraud on its face. There is a risk in that Congress has passed a law making CBOs estimates not as conservative as they ought to be with these sorts of things, but that can't be considered fraud as it is law and it can definitely not be laid at the feet of the prior administration or the Democrats in Congress at the time as the law was passed in 1990.