This may be the biggest accounting fraud in history

[*bfine32*]

(09-12-2019, 06:56 PM)Belsnickel Wrote: 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.

It is exactly why I keep saying we would have to show intent. Stating a reason other than your actual reason for having America assume the financial risk (as you asserted as a possibility) would be more easily associate with fraud than simply over-estimating your profits. I appreciate your expertise in the field but business finance is not something I'm ignorant of.