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Money

Government loses $17bn in accounting error

Government loses $17bn in accounting error

By Chris Ayres in New York for the London Times

AS ACCOUNTING errors go, it is a whopper. The US Treasury has admitted that it has “lost” $17.3 billion (£11.7 billion) because of shoddy book-keeping — enough to buy a fleet of eight B-2 stealth bombers and still have change for jet fuel.

The admission, contained in the 2001 Financial Report of the United States Government, is likely to infuriate firms that have been targeted by the Bush Administration for sloppy accounting.

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Oh, no—Pentagon loses $2.3 trillion

By Uri Dowbenko
Online Journal Contributing Writer February 17, 2002

The Pentagon is still the home of the highest grossing fraud on Planet Earth—fraud so lucrative that even the September 11 Incident would not disturb the insider-criminals.

According to a CBS News story, the US Department of Defense cannot account for $2.3 trillion of taxpayer money.

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Judicial Watch to Sue Cheney, Halliburton

July 9, 2002 

WASHINGTON (Reuters) - A public interest law firm said on Tuesday it would file a shareholder lawsuit alleging Vice President Dick Cheney and the company he ran for five years, Halliburton Co., engaged in accounting fraud.

The Dallas-based company said in May that the U.S. Securities and Exchange Commission is investigating how the company accounted for cost overruns on construction jobs.

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Bush the Elder’s Scheme to Sell Pardons and Get a Payoff

Where is the Outrage Over a 10 Billion Dollar Taxpayer Ripoff?

February 26, 2001

By Jock Gill for Democrats.com

Bill Clinton wasn’t being either bold or creative in his use of the presidential pardon power. Compared to George Bush Senior’s incredible pardon fiasco, Clinton’s pardon scandal is boring.

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HELLO USA! THE DOLLAR TRADES!

By Ned W. Schmidt CFA,CEBS
June 25 2002

Canadians know it. In the past year their currency recently traded at an all time low. Argentina knows it. No on alive wants their currency. The Russians know it. Their currency tribulations cost them an empire, and eviscerated a once great military power. In fact just about everybody in the entire world understands the importance of the value of a nation's currency and that currency values are determined in a global market. But, the "just about everybody" seems to exclude many in the U.S.A.

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The Coming US Dollar Implosion

By Alf Field
June 20, 2002

When dealing with real estate investments, the rule is location, location, location. With regard to investments in general, the rule should be TIMING, TIMING, TIMING.

The reasons are self-evident. If one is too early or too late, the results are disastrous. There are, however, "points of recognition" in any market move which, if acted upon, remove a great deal of the risk and vastly improve the timing and profitability of one's investment activities.

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