Trillions of Dollars Missing from the DOD & HUD

This is an email from Catherine Austin Fitts Former Assistant Secretary of Housing, Bush I
Former lead financial advisor to FHA, Clinton Administration
Hickory Valley, TN and , Esq
Former lead financial advisor to FHA, Clinton Administration
Cincinnati, OH to Cincinnati radio show hostess, Diane Rehnm

This morning, Carolyn Betts was listening to your radio show in
Cincinatti when a caller mentioned that $2 plus trillion was missing
from the Pentagon. You corrected him saying he had the number wrong -
that it was billions, not trillions.

In fact, your listener was correct: the amounts unaccounted for are

The caller was probably recalling that Defense Secretary Donald
Rumsfeld addressed these amounts at a press conference in 2001.
However, his comments related to amounts missing during the Clinton

In fiscal 1999, the Department of Defense (DOD) reported $2.3
trillion of undocumentable adjustments to balance its books. In fiscal
2000, DOD reported $1.1 trillion of undocumentable adjustments to
balance its books. For fiscal 2001, DOD declined to report the amount
of undocumentable adjustments used to balance its books. I learned of
these amounts while researching large amounts missing at the
Department of Housing and Urban Development (HUD) during the same

In FY 1999, HUD refused to publish audited financial statements,
reporting $17 billion of undocumentable adjustments in the FY 1998
ending balance and $59 billion of undocumentable adjustments for FY
1999. HUD declined to report their undocumentable adjustments in FY

In 2007, the federal government declined to publish audited financial
statements for the 11th consecutive year.

For more, see these links:

davelambert's picture all I have to say. What would be amazing is if they did something honest and decent. Sometimes I wonder if we'll end up with our own version of the Sicarii.


That's a hell of alot of money. while programs are shutting down....we can't account for where the money is going?? 

ChrisBowers's picture

2.3 trillion, and guess which side of the pentagon the cruise missile, I mean the 757 hit? Why it was the "under construction" side that just happened to be holding the records that could have proven foul play was afoot in the pentagon's spending habits. And guess where the Enron records and files were - Building 7! I'm sure it was all just one big coincidence and Osama really did make all of that happen like military precision clockwork from a little batcave in Afghanistan, and we can all go back to watching LOST, Survivor, and American Idol....

"Forget everything you just heard and go back to sleep" - Miracle Mile

Love, Chris

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