The Pentagon’s inability to pass an audit, after years of outright stonewalling, followed by many more years of foot-dragging, is suddenly a hot topic. A few weeks ago, Rolling Stone featured a scathing exposé … Writer Matt Taibbi explains ‘It’s the world’s largest producer of wrong numbers, an ingenious bureaucratic defense system that hides all the other rats’ nests underneath. … Enron at its core was an accounting maze that systematically hid losses and overstated gains in order to keep investor money flowing in. The Pentagon is an exponentially larger financial bureaucracy whose mark is the taxpayer.’ …” (Note: Truth in Accounting’s Sheila Weinberg was cited in that Rolling Stone article. More to follow.)
Read the full article on: Cato Institute