Category Archives: Gov’t Waste

AUDIT SHOWS FINANCIAL TRICKERY, DUCKING OF HIRING PROCESSES AND FAILURE TO KEEP CRIMINALS OUT OF CHILD CARE FACILITIES DURING O’MALLEY’S TENURE

MSDE did not always allow the minimum 20-day bid solicitation time (the period between the date of publication of the invitation for bid and the due date for the related bids), as required by State regulations. Our tests disclosed four contracts, totaling approximately $1.1 million, for which the bid solicitation time ranged from 5 to 9 days. A shortened solicitation time may result in a reduced number of bids being received.

Wells Fargo bilked taxpayers with false federally insured mortgages; $1.2 billion settlement and no suits go to prison

Yet, when WELLS FARGO’s senior management was repeatedly advised by its own quality assurance reviews of serious problems with the quality of the retail FHA loans that the Bank was originating, management failed to implement proper and effective corrective measures, leaving HUD to pay hundreds of millions of dollars in claims for defaulted loans.